House Property
This query is : Resolved
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?
Thank you,
Regards
Devendra
Thank you,
Regards
Devendra
CA CHINTAN AJMERA
(Expert)
15 May 2010
Yes it is deemed to be self occupied.
Manek Amit
(Expert)
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.
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.
CA Gangadhar Mishra
(Expert)
15 May 2010
agree with Mr Amit
15 May 2010
Will the house be deemed to be self occupied if Mrs. X purchases the house from her own money?
CMA Arif Farooqui
(Expert)
21 May 2010
yes in that case house both house can be self occupied
CA Ravi Sisodia
(Expert)
21 May 2010
Agreed
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