Income tax

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sanjeev dubey (Querist)

25 October 2011 can any one help me to solve this problem Ashok has a house property situated in Delhi which consists of two units.
Unit A has 60% floor area, whereas Unit B has 40% floor area. Unit A was
self-occupied by Ashok for 8 months and w.e.f. 1-12-2008, it was let out for
Rs.12,000 p.m. Unit B was also meant for self occupation but it was also let
out w.e.f. 1-10-2008 for Rs. 9,000 p.m. The other particulars of the house
property were as under:
Rs.
Municipal taxes paid 55,000
Insurance premium 8,000
Interest on money borrowed 25,000
which unit should we take for calculation

CA Pabbaraju Laxmi Narasimha

CA Pabbaraju Laxmi Narasimha (Expert)

26 October 2011 You should take both the house property as the LET out property.

Even if u let out the Property for the part of the year it shall be taken as the let out property.

You should not take the part of the year as self occupied and another part as the let out..

The Muncipal value, Fair value, standard rent should be segregated in 60:40 ratio
and make out the calculation.

Regards.
Laxmi narasimha

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