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Q. Regarding Lease Deed/ Agreement

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Anonymous

posted 1 month ago

question iconRegarding Lease Deed/ Agreement

Hi,
I am a salaried employee who falls under 30% tax slab and live at a house owned by my brother on the outskirts of Chennai. For the purpose of HRA exemption, my employer needs the rental agreement and I am working on getting one. However, I want to know if I can enter into an agreement with my brother this month( October) for a period of 1 May 2021 to 31 March 2022. Will this be valid legally and if not how do I go about it? The idea is what I will pay rent to my brother and he will show this rental income in his ITR. Please help. Thanks.

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Anik

Anik

Responded 1 month ago

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A.Dear Client,
You can seek effective legal advice on financial and tax concerns from any local chartered accountant. Please consult a lawyer for the same.
Let us know if you require any further assistance.
Thank you!

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Kishan Dutt Kalaskar Retired Judge

Kishan Dutt Kalaskar Retired Judge

Responded 1 month ago

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A.Dear Sir,
You may approach any local chartered accountant to get effective legal advise relating to finance and tax matters.

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