Exemption in respect of self occupied property
This query is : Resolved
15 May 2009
Mr. A, B, C and D, four brothers, being a co-owner of a house property A and four of them having equal share in that property. Further, Mr. A and B being a co-owner of another house property B and both of them having a equal share in property B. In what manner or how, benefit of exemption in respect of self occupied property be availed
15 May 2009
First property can be taken as self occupied by A,B,C & D if they are occupying it. If so considered, the second property will become deemed to be let out by A & B.
CA Nitin Wadhwani
(Expert)
15 May 2009
Also, A & B have option to chose amonrg properties i.e any one as self-occupied and any one as deemed to be let out.
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