This is a question related to Income from house property and Income from other sources.
My son Mr. Beta leased me his house for a nominal rent of Rs 2,000. We have a lease deed which states that there is no prohibition in subletting this property to another person. Now, my grandson, Mr. Pota wants me to sublet this house to him for Rs. 24,000/-. My question is :
Jan. 19, 2018
- What amount should I show as Income from other sources in my income?
- What amount should Mr. Beta show as his income from house property?
- What are the deductions that we can claim in our respective situations?