Income Tax Returns (ITR) filing: Rental income from house property shall be liable to tax
Income tax Act provides for clubbing of income in the hands of the person who is the beneficial owner of the asset from which the income is accruing. Accordingly, income from a house property shall be liable to tax in the hands of the person who invested in the house property.
You can claim the benefits entailed in the Income Tax Act, 1961 (Act), upon undertaking the investments. Image source: Reuters