Sir,
I have taken home loan for construction of my house, but still lot of interior work is pending & I don't have enough money to furnish the house and so I cannot give it on rent. I want to know can I give my house on Lease basis to my father on some reasonable charges on the basis that he can spent money on furnishing/completing the pending work of the house & can let it on rent to recover his expenditure.
Please be informed that my father is a retired person having income from pension only (i.e. less than 100000 p.a.) & i understand the rent income will be added to my father's income & I'll have to pay tax only on lease amount.
