Deemed let out HP
This query is : Resolved
14 July 2010
Husband wife (both salaried)joint owned two house (in mumbai), and claimed interest u/s 24 in form 16 with there employer...( 1st house husband & 2nd house wife)
where as one house is letout @9000/ pm for 4 month in PY.
can both individual claim 1 house as selfoccupied ?
where as one house is letout @9000/ pm for 4 month in PY.
can both individual claim 1 house as selfoccupied ?
14 July 2010
They should be allowed to claim
14 July 2010
As per the Indian culture ,prevailing, if the marriage exists, both wife and husband is supposed to live together in one house. Moreover one house is let out also for a period of time. In view of that, the plea of one house for one spouse each for self occupation will be viewed as a "tax planning for tax avoidance" which,I am afraid, is alarming to the assessees.
14 July 2010
dear prakash sir..
can u please eloberate..
reason for your answer..
can u please eloberate..
reason for your answer..
14 July 2010
AS FAR AS I THINK BOTH CAN CLAIM HOUSE PROPERTY AS SELF OCCUPIED AND BOTH CAN GET THE DEDUCTION OF INTEREST INDIVIDUALY
14 July 2010
please note that 2nd property is letout for 4 months, condition to self occupied HP is NO OTHER BENEFIT should be derived ??
15 July 2010
If a House is owned by both husband and wife, interest u/s 24(b) can be claimed by aperson who repays loan. In you case, loan is repaid by Husband of 1st house and by wife of II house. In that case the claim is right otherwise the ITO will disallow the claim.
Since the house is owned by both, rent received by letting house property should be divided eqally and both has to show rent received as Income from House Property.
Since the house is owned by both, rent received by letting house property should be divided eqally and both has to show rent received as Income from House Property.
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