query related to section 27 of house property head of income
This query is : Resolved
piyush agrawal
(Querist)
14 January 2011
sir,
As per section 27 of house property head of income tax act 1961 holder of impartible estate shall be deemed to be the individual owner of all properties comprised in the estate
so sir my query is what about if any part of the house is not partible for example in house there is a drawing room or a temple and all are using it jointly then how we will treat that part of house property..
thanks for your valuable time sir
As per section 27 of house property head of income tax act 1961 holder of impartible estate shall be deemed to be the individual owner of all properties comprised in the estate
so sir my query is what about if any part of the house is not partible for example in house there is a drawing room or a temple and all are using it jointly then how we will treat that part of house property..
thanks for your valuable time sir
CA PARAS BAFNA
(Expert)
14 January 2011
If the property is being used jointly, it shows that the holders have compromised between themselves rather we would say they have to compromise on various issues.
*
Either they should mutually divide the property or they should unite to decide who would be treated as the holder of such estate. Generally Senior Most person among the joint holders would be given the honour
of becoming the owner.
*
There is no practical difficulty as such. Let them decide.
*
Either they should mutually divide the property or they should unite to decide who would be treated as the holder of such estate. Generally Senior Most person among the joint holders would be given the honour
of becoming the owner.
*
There is no practical difficulty as such. Let them decide.
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