House property

sujit danawale (Article Assistant) (27 Points)

02 October 2017  

The assessee has a house property, the ownership is with his spouse although the consideration has been paid by assessee. The house is self occupied. Now the assessee want's to purchase a new house for tax benefit under section 24. What are the other tax implications and the house property purchased earlier would it be considered as his property for the purpose of income tax even though not registered under his name?