Assessee owning more than one house property
This query is : Resolved
23 July 2010
Mr X owns two residential house property,
one in jaipur and other in mumbai, since both the house properties are in the name of Mr. X.
As per provision of income tax act, X can chose any house as self occupied house property.
my question is:
in this case, suppose X's stays in mumbai in his mumbai house property, and in jaipur house, either X's family members are staying or it is vacant?
CAN MR X. CHOSE MUMBAI'S HOUSE AS DEEMED LET OUT PROPERTY EVEN THOUGH HE IS STAYING IN THIS HOUSE PROPERTY AND CHOSE JAIPUR HOUSE AS S/O.?????
OR
IS IT NECESSARY TO CHOSE ONLY THAT HOUSE PROPERTY AS SELF OCCUPIED HOUSE PROPERTY IN WHICH ASSESSEE RESIDE??? OR ANY HOUSE PROPERTY CAN BE CHOSEN AS EITHER S/O OR LET OUT (or deemed let out) house property irrepective of wherever assessee LIVES???
one in jaipur and other in mumbai, since both the house properties are in the name of Mr. X.
As per provision of income tax act, X can chose any house as self occupied house property.
my question is:
in this case, suppose X's stays in mumbai in his mumbai house property, and in jaipur house, either X's family members are staying or it is vacant?
CAN MR X. CHOSE MUMBAI'S HOUSE AS DEEMED LET OUT PROPERTY EVEN THOUGH HE IS STAYING IN THIS HOUSE PROPERTY AND CHOSE JAIPUR HOUSE AS S/O.?????
OR
IS IT NECESSARY TO CHOSE ONLY THAT HOUSE PROPERTY AS SELF OCCUPIED HOUSE PROPERTY IN WHICH ASSESSEE RESIDE??? OR ANY HOUSE PROPERTY CAN BE CHOSEN AS EITHER S/O OR LET OUT (or deemed let out) house property irrepective of wherever assessee LIVES???
CA.JAYAKUMAR.J
(Expert)
23 July 2010
hi ashish,
its left to the assessee as to which property to choose as deemed letout , after computing tax liability on both as sop and lop whichever is benefitial u can opt for that
its left to the assessee as to which property to choose as deemed letout , after computing tax liability on both as sop and lop whichever is benefitial u can opt for that
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