INCOME FROM HOUSE PROPERTY

[S.C. WADHWA]

An individual has one house property which is let out to two tenants during the whole financial year and is also used by assesse for his occupation.

Query is: Whether in computation of income from house property, whether rental income earned has to be shown in consoldiation from the two tenants

or

It may be separately shown for each tenant having the same property address

Please note that rent has been received from each tenant which is less than ₹ 1 lac i.e. total sum received is 1.9 lacs

AI Summary

Report Rental Income Jointly: Combine Rent from Two Tenants for Tax, Totaling 1.9 Lakhs, Each Paying Under 1 Lakh. An individual with a house property rented to two tenants and also used for personal occupation inquires about reporting rental income for tax purposes. The question is whether to consolidate the rental income from both tenants or report it separately, given that each tenant pays less than 1 lakh, totaling 1.9 lakhs. The response suggests that the rental income can be shown jointly.