Income from house property
This query is : Open
06 July 2016
Hello, my question is regarding Income from House property.
Suppose i stay in Thane, where i have 2 properties say A & B. Property A is self occupied & B is deemed to be let out property. I have loans on both houses (A&B). For Tax purposes it is more beneficial for me to show as Property A Deemed to be let out and Property B being Self occupied. Can i show it such a way to get tax benefits?
Current Status: Both Properties in Thane
Property A: Self occupied
Property B ; Deemed to be let out
For Income tax purpose: More beneficial
Property A: Deemed to be let out
Property B: Self Occupied
Can i adopt the second method which would be more beneficial to me???
Suppose i stay in Thane, where i have 2 properties say A & B. Property A is self occupied & B is deemed to be let out property. I have loans on both houses (A&B). For Tax purposes it is more beneficial for me to show as Property A Deemed to be let out and Property B being Self occupied. Can i show it such a way to get tax benefits?
Current Status: Both Properties in Thane
Property A: Self occupied
Property B ; Deemed to be let out
For Income tax purpose: More beneficial
Property A: Deemed to be let out
Property B: Self Occupied
Can i adopt the second method which would be more beneficial to me???
06 July 2016
Yes. Not an issue. And file return accordingly mentionong the adresses of houses
06 July 2016
But note that. In case ur file opens, u need to establish the same before ITO
06 July 2016
Okay. Thank you Sir.
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