06 September 2016
if we purchase two property adjecent to each other n make neccesary modification to make it single unit, then wil we get exemption on both house properties???
07 September 2016
with effect from 01/04/2015, the word "one residential house in India" has been substituted. The courts under similar cases but for different context, have taken the view that in the cases of joining the adjoining properties, the crucial test could be what is the situation as per the SANCTIONED plan of the local authority
07 September 2016
check the tenaments allowed by the local authority.....if it fits well into that, then you can claim both the flats as ONE unit.... Else you need to claim the one which is more beneficial to you, value wise
16 September 2016
i m yet confused on dis...i m asking from exam (CA final)point of view, i find two contradictory ans.1 says it wil b allowed n oder says not allowed, on same question n all curcumstances are same.
17 September 2016
earlier it was very much allowed. But now income tax has categorically made the mention as "one residential house"... That has made the difference. From examination view point....write the provision as it appears in Act..... The by way of note you can say " contrary view is possible"
CAclubindia
