house property query
This query is : Resolved
12 June 2010
hello sir
my client have 4 residence house in ahmedabad. as per the act i have consider only one house for self occupied. 2 house is taken on loan. so what should i do ? only one consider for self occupied ? and other house can i consider as a deemed let out??? plz reply earlier.
my client have 4 residence house in ahmedabad. as per the act i have consider only one house for self occupied. 2 house is taken on loan. so what should i do ? only one consider for self occupied ? and other house can i consider as a deemed let out??? plz reply earlier.
12 June 2010
Since 4 houses are residence purpose Assessee having right to choose the house which is self occupied and deemed to letout. my sugeestion is compare the Housing interest on the houses For SOP Maximum Interest is Rs.1.5.Lakhs allowed and LOP is actual. so please select the house for SOP & DLOP based on interest for tax planning
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