Income from house property

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Querist : Anonymous

Querist : Anonymous (Querist)

21 June 2017 Dear Tax Experts

Please solve my below problem

If a person living in a house for the financial whole financial year or partially and remaining portion he gives rent to third party, he is collecting rent from them. In this case income as taxable or nil?

While computing self occupied and let out house property calculation are same or difference?

Amol S Joglekar

Amol S Joglekar (Expert)

21 June 2017 one is self occupied.
the rent from the other portion is taxable as income from house property

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Querist : Anonymous

Querist : Anonymous (Querist)

21 June 2017 Thanks sir.................How to know that municipal value of rent?

Querist : Anonymous

Querist : Anonymous (Querist)

21 June 2017 While computing self occupied and let out house property calculation are same or difference?

Amol S Joglekar

Amol S Joglekar (Expert)

21 June 2017 slightly different. One self occupied......income can be treated as NIL

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Querist : Anonymous

Querist : Anonymous (Querist)

22 June 2017 Here I'm elaborating above query please try to solve the issue .

Mr 'A' have one house and he is staying same house and some portion give rent to tenant.

Mr 'B' have two house. In one house full portion he is staying and another house give rent

For above case calculation of computation of income are same or difference?

Thanking you..........

Amol S Joglekar

Amol S Joglekar (Expert)

23 June 2017 you can take rent received and compute the income from house property.

Querist : Anonymous

Querist : Anonymous (Querist)

23 June 2017 Thank you sir .........

Amol S Joglekar

Amol S Joglekar (Expert)

23 June 2017 you are most welcome

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