Income from house property
This query is : Resolved
jugal solanki
(Querist)
17 April 2012
I have a doubt. please solve the query.....
Mr.A & Mrs. A both are salaried person. Mrs. A owns a house on name of her. & plan to buy other house on name of her only. Den hw shld she escape frm House property tax? (as 2nd house become DLOP)
and if decision changes dat she buy on name of her susband i.e. Mr. A bt money paid by Mrs. A, will der will be DLOP(2nd house)????
Please its urgent......
Mr.A & Mrs. A both are salaried person. Mrs. A owns a house on name of her. & plan to buy other house on name of her only. Den hw shld she escape frm House property tax? (as 2nd house become DLOP)
and if decision changes dat she buy on name of her susband i.e. Mr. A bt money paid by Mrs. A, will der will be DLOP(2nd house)????
Please its urgent......
Dintakurthi Tirumala
(Expert)
17 April 2012
In any case the income from house property would be charged in the hands of Mrs.A.
In the first case it is direct income to Mrs.A and in the second case it is deemed income in the hands of Mrs.A.
OM SAI SRI SAI JAI JAI SAI
In the first case it is direct income to Mrs.A and in the second case it is deemed income in the hands of Mrs.A.
OM SAI SRI SAI JAI JAI SAI
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CA PARAS BAFNA
(Expert)
17 April 2012
Alternatively, Mrs A may give loan to Mr A so that house can be purchased by him in his name.
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jugal solanki
(Querist)
17 April 2012
thank you!!! :)
but if mrs. a give loan to mr.a & mr.a purchase house property, den purchased HP will belong to SOP of mr.a even if he doesn't stay der? as dey r nt living apart....
but if mrs. a give loan to mr.a & mr.a purchase house property, den purchased HP will belong to SOP of mr.a even if he doesn't stay der? as dey r nt living apart....
CA Prashant Gupta
(Expert)
17 April 2012
Agree with experts. you can choose any of the options.
jugal solanki
(Querist)
17 April 2012
is it valid if mrs. a give loan to mr. a & den mr. a purchased HP & replay loan in installment... den mrs. a can escape from DLOP of 2nd HP??? will 2nd house will be treated as SOP of mr. a ? even if dey r living in 1st house (not living apart)
jugal solanki
(Querist)
17 April 2012
is it valid if mrs. a give loan to mr. a & den mr. a purchased HP & replay loan in installment... den mrs. a can escape from DLOP of 2nd HP??? will 2nd house will be treated as SOP of mr. a ? even if dey r living in 1st house (not living apart)
CA PARAS BAFNA
(Expert)
17 April 2012
Yes. Mr A can treat the house as self occupied provided it is not let out and no other benefit is being derived by him from such property.
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