House property
This query is : Resolved
Jay Parekh
(Querist)
26 November 2013
I hav 1 flat in my name and i am
a joint holder wit my wife in another. So will the deemed let out
provision apply to me?? What are the section applicable in case of joint
holders??
Rply asap
a joint holder wit my wife in another. So will the deemed let out
provision apply to me?? What are the section applicable in case of joint
holders??
Rply asap
CA PARAS BAFNA
(Expert)
26 November 2013
Yes deemed let out provisions apply.
.
You have to show income in respect of one property.
.
Each co-owner is treated as owner of his share and each share is treated as a residential unit.
.
If you show the flat in your name as self Occupied, you have to show 50% deemed income from the joint property.
.
.
You have to show income in respect of one property.
.
Each co-owner is treated as owner of his share and each share is treated as a residential unit.
.
If you show the flat in your name as self Occupied, you have to show 50% deemed income from the joint property.
.
Jay Parekh
(Querist)
27 November 2013
can u tell the section which supports your answer??
CA PARAS BAFNA
(Expert)
27 November 2013
Yes Mr. Parekh. Section 23(4) and Section 26
may be referred in support of my above reply.
.
.
may be referred in support of my above reply.
.
.
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