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SAHETA OCHANI (Querist)
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02 November 2012 1.A PERSON OWNS TWO FLATS IN A BULDING ADJACENT TO EACH OTHER.HE AND HIS WIFE SHARE THE OWNERSHIP OF BOTH FLATS IN THE RATIO OF 1:1 IN EACH FLAT i.e.50% IN EACH FLAT.
BOTH FLATS ARE SELF OCCUPIED.
Case 1 What is the tax implication if both flats are combined as one? Does it attract the deemed lop section?
Case 2 Tax implications on considering it as a joint flat?
Case 3 Tax implications on not considering it as a joint flat?

Soumitra Basu

Soumitra Basu (Expert)
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04 November 2012 THE INCOME AND EXPENDITURE OF BOTH THE FLAT SHALL BE APPRRTIONED ON CO-OWNERSHIP BASIS.

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SAHETA OCHANI

SAHETA OCHANI (Querist)
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05 November 2012 but the flat can be considered as one residential unit right?

Soumitra Basu

Soumitra Basu (Expert)
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06 November 2012 PROVIDED BOTH FLAT ARE USED BY THE SAME FAMILY MEMBERS.

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SAHETA OCHANI

SAHETA OCHANI (Querist)
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09 November 2012 the assessee lives in one flat..and his parents stay in the other flat..so they can be considered as the same family members right???

Soumitra Basu

Soumitra Basu (Expert)
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10 November 2012 IN THIS FACTS YOU HAVE A ARGUABLE CASE BY SAYING THAT THE SECTION SPEAKS OF BUILDING AND NOT OF FLAT. SEVERAL FLATS CONSTITUTE A BUILDING.

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