Income from house property

This query is : Resolved

DHEERAJ KUMAR (Querist)
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26 September 2016 Suppose a person has three house properties in ludhiana and none of them is let out

whether he will still have to pay tax on notional rent as per Income Tax act on 2 properties
i just want to confirm from expert if yes then will it not be hardship on person who is not earning any thing but paying tax

Amol S Joglekar

Amol S Joglekar (Expert)
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26 September 2016 Yes, the deemed income from the other 2 properties should be considered...
And why do you think it is a hardship.....
The person owning 3 houses is definitely not a BPL (Below Poverty Line) person...is he?
Your views please

DHEERAJ KUMAR

DHEERAJ KUMAR (Querist)
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26 September 2016 I WILL BE THANKFUL IF YOU EXACTLY MENTION THE LAW REGARDING THIS RULE
AND WHICH HOUSE WILL BE LEFT OUT FOR RESIDENCE PURPOSE

Amol S Joglekar

Amol S Joglekar (Expert)
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26 September 2016 01. since none of the property is let out, any one of them may be treated as self occupied at the choice of the assessee.
02. read section 23..... more so for section 23(4)
http://www.incometaxindia.gov.in/Pages/acts/income-tax-act.aspx

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