Assessee's Rental Income Distributed Among Co-Owners; Denial of Section 57 Deduction Prevents Double Taxation.

Assessee's Rental Income Distributed Among Co-Owners; Denial of Section 57 Deduction Prevents Double Taxation. https://www.taxtmi.com/highlights?id=66820 Treatment to rental income - income from other sources - Since the income received by the assessee has been distributed amongst the co-owners of the property and the co-owners had declared the income in their respective income tax returns, the non allowability of deduction to the assessee u/s 57 will amount to double taxation of the same income which is not permissible. - AT en-us Tue, 29 Nov 2022 15:22:37 +0530 Tue, 29 Nov 2022 15:22:37 +0530 TaxTMI RSS Generator Assessee's Rental Income Distributed Among Co-Owners; Denial of Section 57 Deduction Prevents Double Taxation. https://www.taxtmi.com/highlights?id=66820 Treatment to rental income - income from other sources - Since the income received by the assessee has been distributed amongst the co-owners of the property and the co-owners had declared the income in their respective income tax returns, the non allowability of deduction to the assessee u/s 57 will amount to double taxation of the same income which is not permissible. - AT Highlights Income Tax Tue, 29 Nov 2022 15:22:37 +0530 https://www.taxtmi.com/highlights?id=66820