LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Raj Shah (Owner)     02 August 2011

Regarding: rent agreement

Dear Senior,

If I am sharing room with one of my friend can we make rent agreement in two names? For example, if the rent is Rs. 10,000 then can I make agreement showing Rs. 5000 paid by each. I want to so it in my tax deduction and so was wandering is it possible to make such agreement.


Regards,

Raj Shah



Learning

 4 Replies

M.Sheik Mohammed Ali (advocate)     02 August 2011

you can made memorandam of understanding or mutual agreeement.

1 Like

Kanaksinh P.Boda (Educationist/Lawyer)     02 August 2011

You can make a joint LL agreement with owner and claim 50% for IT, provided your partner will have to give a declratation that he is not claiming the said half  rent in his IT.

Raj Shah (Owner)     02 August 2011

Thanks for the reply. However, what if we both want to take exemption from IT??

Regards,

Raj Shah

Kanaksinh P.Boda (Educationist/Lawyer)     02 August 2011

Each can claim the half or one can  claim full, provided the other one is not seeking exemption.

1 Like

Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register