20 February 2017
hi.
an employee got the possession in fy 16-17.
he stays in the same city on rentals.
total int paid from fy 11-12 till Mar 16 = 14.28 lacs.
current year int 3.81 lacs.
wish to confirm the following :
1. he has only one owned property still can he consider this as let out?
2. as possession was not received he stayed on rented house... so hra benefit available ?
21 February 2017
thanks a lot.
1st point is clear that even though there is one owned property..... an assessee has the option to treat that as self occupied or let out.
however with regards to the second point..... in the same case.... where an assessee is showing the only owned property as let out property and not self occupied property... will he get hra benefit..... here both are in the same city
22 February 2017
hi.... in combination to the above query.... wish to confirm that the stamp duty paid while registration of the said property, which is let out in the current financial year......... will be eligible for deduction from rent income.
kindly reply
CAclubindia
