S.R.D. (PROP.) (62 Points)
02 August 2017Hello Everyone,
i have a query regarding income from house property, if a person have / owned only one house property but he has let-out the property for 9 months and later on he shifted to same property, (3 months self occupied in same financial year)
my query is , the said property will be treated as let-out property only ??? and
can the property owner claim Principal Repayment benifit u/s 80C (for 3 months in which he was staying in that property).
Priyanka
(Chartered accountant)
(367 Points)
Replied 02 August 2017
It will be treated as partly let out for 9 months and partly self occupied for 3 months,
Disclose your rent income for 9 months which you actually got.
You can claim benifit of principal repayment of housing loan u/s 80C. type of house property wheather SOP or let out doent matter.
CMA Poornima Madhava
(CMA)
(13097 Points)
Replied 02 August 2017
As I understand, such house property would be considered as let out. Rental income for the period during which the property is let out shall be considered to compute income.
CAclubindia
