Income from the house property having 40%share.?

I have purchased a property where my share on the property is stated as 40% my wife 40% and my two son 10% each. The sons contribution however is not as stated. Now the property is likely to be given on rent. All four are tax payer.. Will the rent be divided as per the share of the property for the purpose of the tax..

One Reply to “Income from the house property having 40%share.?”

  1. Yes the income from the property also will be divided in the same ratio only. Check with chartered accountant for clarity.

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