Legal Question in Real Estate Law in India

1. A person, owns a single story house. He wants to make agreement with his wife to construct upper floors out of her own income and in lieu of construction expenses she can collect rent from it for certain years. what is the legal process for the same, whether simple notarized agreement will work or some other formality is required.

2. what about tax liability on the husband regarding rent collected by the wife.


Asked on 10/30/13, 5:18 am

2 Answers from Attorneys
Fca Prashant Chavan Expert Edge LLP

30.10.2013

Dear Sir / Madam,

1. Being an internal matter, no formal procedure is required, a mutual agreement is sufficient.

2. Rent collected by wife is taxable in her Income Tax Return.

Regards,

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Answered on 10/30/13, 5:36 am
Rajiv Chandhok Ph: +919810050896 https://www.linkedin.com/in/rajiv-chandok-0827b733/

I agree with Mr. Chavan

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Answered on 10/30/13, 5:45 am


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