Save Rs 588 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Meaning of one propety for SOP

Save Share

This query is : Resolved

j p daga (Querist)
Follow

16 November 2009 Dear friends,

I want to understand following with regard to "Deemed to let out property"

AS per Act One property is allowed to assessee to declare as SOP . What will happen when assesse has 5 Flates but all jointly together with commen wall whether it will be treated as once property or 5 property.

Regards,
J P Daga
9987506491

Sunil

Sunil (Expert)
Follow

16 November 2009 The five flats should be joined together as one dwelling unit to be considered as one flat. In addition there is a total area restriction of 500 square meters (for wealth tax at least). I will just check whether it is applicable for SOP also and let you know. maybe more experts will have an immediate answer to this.

Please do not post your personally identifiable information like Mobile Number in the Posts as it is in full public view. Website administrators void their privacy policy for your visit if you yourself deliberately or unintentionally compromise your privacy.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now