Dear Experts,
I have a question on income tax, could anyone please clarify.
Im a working person and also having a rental property. When both the income are combined I need to pay a huge amount of tax. In order to reduce, is the below method allowed?
My mother can lease the entire property for a minimal amount (Rs.A) and sub let the shops and collect the rent from all shops (Rs. B)?
So I can pay tax for my salary + Amt A, my mother can pay tax for the amount B-A?
is this legally allowed?
Thanks in Advance