Name of Wife as co-applicant, Income Tax

[Ramesh Rangani]

Hi Experts!

Please advise on below query:

I purchased house (I have already one house in my name) and put name of my wife as co-applicant. All cheque payment was made from my bank account whereas loan was taken in both name (again the EMI was deducted from my bank account). My query is whether the income towards notional rent will be shared by both or it will be treated as my income only.

Thanking you in anticipation...

Posts / Replies

[Ganeshan Kalyani]

Sir, if you have disclosed the details of house property in your ITR then Department will consider the income earned from said property in computing your income tax. This is my view. Thanks.