Income from house property
This query is : Open
05 August 2013
An assessee (Individual) has purchased two adjacent flats in a building and combined the two flats into one. Now the question is whether this combined flat will be treated as one house property or two house properties under Income Tax?
If treated as one house property, it will become SOP and no tax on same. However if treated as two properties, one property will be SOP and another will become DLOP which will attract income tax.
Kindly advise on the same
Thanks & Regards
Yash Goyal
If treated as one house property, it will become SOP and no tax on same. However if treated as two properties, one property will be SOP and another will become DLOP which will attract income tax.
Kindly advise on the same
Thanks & Regards
Yash Goyal
05 August 2013
if they are in one building and simultaneously used for sop then as per recent judgement it is treated as sop and not dlop.
05 August 2013
Thank You Sir.
Can you also please provide me with the name of the case or a link that can direct me to the case.
Can you also please provide me with the name of the case or a link that can direct me to the case.
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