I have rented a property from someone and since I could not occupy that property or could only partly occupy, I have sub-let the property to a third party in exchange for a receipt of income. Is this receipt taxed as house property income?

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• I have transferred my house property to my spouse as per the terms of the agreement of living separately from each other. In whose hands will the income from the house property be taxed?

  As per section 27(i) of the IT Act, your spouse shall be the owner of the house property and hence the income shall be taxed in her/his hands, since the property stands transferred in connection with an agreement to live apart.

• Can rental income on a property be taxed in the hands of a person who is not a registered owner of the property?

  The income or receipt can be taxed as ‘income from house property’ only when you own the property and you are entitled to legally receive income from such property.

• I have transferred my house property to my minor child who is not married. In whose hands will the income from the house property be taxed?

  As per section 27(i) of the IT Act, you shall be the owner of the house property and hence the income shall be taxed in your hands.

• I have rented out a part of my house property and I stay in another part of the same house property. In such case, how will the income be computed?

  In this case, the two parts of the house shall be considered as independent house properties or taxable units. ·       The part in which you are staying shall be treated as a self-occupied property and the income shall be computed accordingly. ...

• While computing income chargeable to tax under the head “Income from house property” in case of a let-out property, how much interest on housing loan can be claimed as deduction?

  In case of a let-out property, there is no limit on the quantum of interest which can be claimed as deduction while computing income from house property.