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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- RELATED TO TRIBUNAL APPEAL
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- ITR 4 and Bank transactions
- HOUSING LOAN ISSUE
- TDS AND ITR ISSUE
- Journal entry of busniess expenses
- Cash balance limit and property purchases limit
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
