My spouse and I jointly own a house in which both of us have invested equally from individual and independent sources. Can we split the rental income received between the two of us to be taxed in individual hands?

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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.

• I have transferred my house property to my spouse through a gift. We are living together and not separated. In whose hands will income from the house property be taxed?

  In such a case, you shall be the owner of the house property and hence the income shall be taxed in your hands. (Section 27(i) of the I T Act)

• How is income from a house property as per the Income tax Act different from the ‘rental income’ received from house property?

  The rental income is received by a person against renting out of his property. The computation of income from house property is NOT solely dependent on this rental income. If you are not receiving rental income, it does not mean that the House ...

• 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.

• 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.