Income tax on multiple property
This query is : Resolved
Quick Summary
11 July 2024
Sir following are the details of properties I have:
1st flat - Let out through out the year - Im the sole owner
2nd flat - Let out through out the year - Joint ownership with wife
3rd flat - On Home loan with EMI of 50k - self occupied - joint ownership with wife.
My parents stay in their own house
Till last ITR, i showed the facts in IT returns and this year can I show in the following way in IT returns: -
1st and 2nd as self occupied and 3rd as letout as I can claim full interest paid on home loan as deduction?
Please guide
1st flat - Let out through out the year - Im the sole owner
2nd flat - Let out through out the year - Joint ownership with wife
3rd flat - On Home loan with EMI of 50k - self occupied - joint ownership with wife.
My parents stay in their own house
Till last ITR, i showed the facts in IT returns and this year can I show in the following way in IT returns: -
1st and 2nd as self occupied and 3rd as letout as I can claim full interest paid on home loan as deduction?
Please guide
11 July 2024
Not advisable. CPC may demand rent agreement in case of any suspicion.
11 July 2024
sir,
Can I show both the 1st and 3rd properties as self occupied even after letting out the 1st property for whole year?
Can I show both the 1st and 3rd properties as self occupied even after letting out the 1st property for whole year?
11 July 2024
When first property is actually let out, how can you declare it as SOP?
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