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To put name of my wife jointly in my current flat.
07-Jun-2023 (In Property Law)
As I want to rent my flat,this extra money will lead to extra taxation for me.so can I put my wife's name on the same,rent the full agreement on her?Can this rental payment be fully her income and not for my earning?Soo can get some relief in my tax.
Yes that’s absolutely legal and allowed and everybody follows it for taxation purposes so you may go ahead and do this as it will benefit you for taxation purposes.
You won’t have to show any returns for the same and your wife can claim the benefit
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Adv. Garima Anil Mehrotra
Mumbai | 700+ Answers
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You can rather make a Provision for Services Agreement or an Amenities Agreement to avoid taxes. The answer to Your query is that you will have to make a registered gift deed transferring 50% of your rights into the flat in the name of your wife and then she becomes the joint owner.
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Adv. Rishikesh Gherade
Mumbai | 50+ Answers
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Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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