regarding house property
This query is : Resolved
20 June 2009
A person let out his 1 big house to 4 persons @ 2000/-p.m per person on 1/4/2008
On 30/10/2008 he makes 2 different house by dividing the 1 big house into 2 house
& registered the both house against appropriate authority & let out both the house
to the same persons but sending 2 persons in the 2nd house.
Now my question is,can he gets the standard deduction 2 times for 2 house
(before dividing the house he gets standard deduction 1 times)
Note: the standard deduction of 30% calculated on net value which is different for both
the houses.
What should I do to make a tax planning in case of house property?
Which are the possible areas of tax evasion in case of house property income?
On 30/10/2008 he makes 2 different house by dividing the 1 big house into 2 house
& registered the both house against appropriate authority & let out both the house
to the same persons but sending 2 persons in the 2nd house.
Now my question is,can he gets the standard deduction 2 times for 2 house
(before dividing the house he gets standard deduction 1 times)
Note: the standard deduction of 30% calculated on net value which is different for both
the houses.
What should I do to make a tax planning in case of house property?
Which are the possible areas of tax evasion in case of house property income?
Ratan Sharma
(Expert)
20 June 2009
What type of deduction Hitesh? your question is not clear. Standard Deduction of 30% rent received is available in both the cases.
Deepak Goel
(Expert)
21 June 2009
I am not getting clear what you are asking Hitesh
21 June 2009
clear ur question
CA Nitin Wadhwani
(Expert)
22 June 2009
No, it's a clear case of Tax Evasion.
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