Income declaration scheme

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 June 2016 Sir,

It is understood that income from house property is exempted from tax.
If the person own more than one property then how to report this income under the Income declaration scheme ?
While to file return for assessment year 16-17 while reporting income from house property under the scheme.

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

27 June 2016 the house property can be A. Self Occupied and/or B. Let out and/or Deemed let out.
Assuming your both properties are self occupied......at the option of the assessee, any one of the two properties...the income shall be treated as NIL.
The other shall be regarded as deemed let out......