14 May 2010
If Mr. X owns a house and he purchases one more house in his wife's name (Mrs. X), then can those two houses be deemed as self occupied to save tax?
15 May 2010
1. As both houses in different name one can claim both as self occupied
2. If 2nd house is purchased by husband itself from his income then for another house the husband will become deemed owner u/s. 27 and out of two, one house will be considered as self occupied and other house will be considered as deemed to be let out.
3. if 2nd house is purchased from the money gifted by husband to wife then deemed provision of s. 27 will not be applicable and provision of clubbing will be applicable.
CAclubindia
