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Tax liability of rental income while son and mother are joint owners
11-Aug-2023 (In Tax Law)
My son purchased a flat in joint names (My son and myself (lady senior citizen) while taking a loan from a bank which has been fully paid and transferred in joint names. If mother rents out that property (the first party is son) the liability of income tax will be that of mother or son. mother will be receiving rent
Salutations Ma'am, Just read your query. We at Mittal Law Offices deal with these type of cases. We will get back to you on your contact details to have an elaborate discussion and offer all possible help from our side.Kindly wait for our call. Thanks.
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Adv. Akshat Mittal
Panchkula | 100+ Answers
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