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    <title>joint ownership of property</title>
    <link>https://www.taxtmi.com/forum/issue?id=2563</link>
    <description>A joint owner should be assessed only on his proportionate share of rental income; gross rent must be allocated among co-owners, with TDS credit claimed only for the taxpayer&#039;s share. There is no separate deduction for amounts paid to a co-owner; correct tax treatment is to show rental income net by allocating the gross receipts and claiming proportionate TDS. If the assessing officer includes the entire rent in one co-owner&#039;s income and denies corresponding TDS credit, the taxpayer should establish joint undivided ownership and may appeal the disallowance.</description>
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    <pubDate>Wed, 29 Dec 2010 12:24:48 +0530</pubDate>
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      <title>joint ownership of property</title>
      <link>https://www.taxtmi.com/forum/issue?id=2563</link>
      <description>A joint owner should be assessed only on his proportionate share of rental income; gross rent must be allocated among co-owners, with TDS credit claimed only for the taxpayer&#039;s share. There is no separate deduction for amounts paid to a co-owner; correct tax treatment is to show rental income net by allocating the gross receipts and claiming proportionate TDS. If the assessing officer includes the entire rent in one co-owner&#039;s income and denies corresponding TDS credit, the taxpayer should establish joint undivided ownership and may appeal the disallowance.</description>
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      <law>Income Tax</law>
      <pubDate>Wed, 29 Dec 2010 12:24:48 +0530</pubDate>
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