dear sir/madam,
request your kind replies,
I am fighting 125 interim and final maintainence cases, along with HMA 24 and RCR case filed by wife.
I have a one bedroom flat, jointly owned by me and my brother, which is brought on loan and EMI is being paid
The loan is borrowed jointly by me and my brother.
The flat is rented out to a tenant at Rs 9000 per month, the agreement is done on my name with tenant
The EMI being paid is of Rs 15000 per month, the difference of 6000 is being paid jointly by me and my brother (3000+3000)
my question is: Will the rent be considered as my income as the agreement is in my name and the rental amount is being deposited in my account.
will the flat be considered as an investment, and not a necessity of shelter, as this is the only property we as brothers own, this is not 100% owned by me.
will the rent received in my name be considered as extra income by me, ?
The fact is that though we are receiving the rent of Rs 9000, we are both contributing Rs 3000 each and paying the EMI of Rs 15000. so there is no monetary benifit for me as such.?
Request you all for your kind guidance. thanks
