Income tax on multiple property

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venkatesh (Querist)
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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

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 July 2024 Not advisable. CPC may demand rent agreement in case of any suspicion.

venkatesh

venkatesh (Querist)
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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?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 July 2024 When first property is actually let out, how can you declare it as SOP?

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