banner_ad

Co-ownership & DLOP

This query is : Resolved 
Profile Image

Profile Image

(Querist)
11 July 2023 Dear Sir / Madam,
My query is as follows:

Ms A is co-owner with her mother in Flat No. 1 & Flat no.3 on 50:50 basis each.
She is also a co-owner with her Grand mother in Flat No.2 & Flat No.4 on 50:50 basis each.

All flats are vacant. Hence For Ms A, there are in all 4 properties whereas her mother and her Grandmother have 2 properties each on co-ownership basis with Ms A.

So my question is: since all flats are vacant, for her mother & her grandmother, 2 flats will be treated as SOP.

But For Ms A, 2 flats will be SOP & 2 flats will DLOP.

So how to show rent of DLOP flats in the returns of Ms A, her mother & her grandmother ? because suppose rent is Rs. 10000/- pm each for 2 flats then for her share it will be 5000/- pm for each flat. But those flats would be SOPs for her Mother & Grand-mother.
Then are we supposed to show rent in the return of Ms A only and SOPs in other two cases? Bit confused....

Kindly guide me.

Regards,
Suraj
Profile Image

Dhirajlal Rambhia

Profile Image

Dhirajlal Rambhia (Expert)
12 July 2023 Technically, declare 50% rent for remaining two flats as deemed rent, while same will be SOP for her GMs.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news


Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
04 June 2026
Semi Qualified CA

Goyal Puneet & Associates

New Delhi

CA Final

View Details
Company
ARTICLESHIP 15 May 2026
Audit Assistant / Article Trainee / Intern

SSGS and Associates

Chennai

CA Inter

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details