Rental Income transfer to mother as per father will

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Q. > Please Help: Rental Income transfer to mother as per father will

478 views • Question added Feb 04, 2012 • Income Tax • By amit agrawal , CA , Delhi

Dear Sir,

I have following quarry
Father properties distributed to son, daughter (NRI) and wife after death and wife relinquished her right from such properties after that total property transfer to son & daughter and as per will of father daughter rental income from property should be transfer to mother.
Then Tax liability of Income tax on Rental Income of house property should be liable on Daughter or Mother and on which head.
Please reply with section or case laws

2 Answers

answered Feb 19, 2012 by Mrattunjay , New Delhi

Kindly refer Section 60 with case laws

answered Jul 02, 2012 by Rambabu Senkarasetti , Guntur

I agree with above answer.

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CA Gaurav Kumar Agarwal

10-Feb-2012 , 03:10:52 pm

Refering to section 60 of clubing of income. where there is no transfer of the assets from which the income arises, be chargeable to income tax as the income of the transferor and shall be included in his total income. As per ur query it is quite clear that the father had not transfer his house to his wife, the asset is transferd to daughter but the income is trnferable to wife which is not allowed in income tax act. in this regard the assets is deemed to be belong with daughter because it is presume that this is irrevocable transfer hence the income arrising out of transfered assets must be taxable in the hands of daughter under head house property & not in the hands of wife. You may discuss this with some more experienced people. Thanks CA Gaurav