rent received by one joint owner

[d.v. gupta]

sir,

one of my assessee  holds a house property jointly with other person.  Full Rent received from property by the assessee with the consent of other joint owner.The total rent received was rs 15000 per month and a tds of rs 18000 deducted from rent. Assessee paid half rent of rs 6000 per month. to the other joint owner.The A.O.is considering the all rent income in hand of assessee and not allowing payment made to other joint owner. Is he correct despite the fact the actual income is half only.

AI Summary

Joint Property Owner Challenges Full Rent Taxation; Seeks Recognition of Shared Income Under Section 26. An individual raised a query about income tax implications for rent received by one joint owner of a property. The assessee, who jointly owns a property, received the full rent of Rs 15,000 per month with the consent of the other owner and paid Rs 6,000 monthly to the co-owner. The Assessing Officer (A.O.) is treating the entire rent as the assessee's income, disregarding the payment to the co-owner. The response suggests providing evidence of joint ownership through documents like the sale deed, previous tax returns, and the rent agreement to demonstrate shared ownership and income.