Tax implication on 2 houses if i'm on rent
This query is : Resolved
11 May 2014
Hi,
I'm a salaried person staying in Bangalore in a company leased apartment. However, I co-own a flat ( in Bangalore ) with my wife which is rented out. I also have purchased another flat ( along with my wife ) which is currently under construction and have applied for a loan for the same. Under such circumstances, what are my tax implications now while the second house is under construction and later this year when the construction gets completed ? Also, what can i hive off in my wife's (housewife) name ?
Regards,
Rajiv.
I'm a salaried person staying in Bangalore in a company leased apartment. However, I co-own a flat ( in Bangalore ) with my wife which is rented out. I also have purchased another flat ( along with my wife ) which is currently under construction and have applied for a loan for the same. Under such circumstances, what are my tax implications now while the second house is under construction and later this year when the construction gets completed ? Also, what can i hive off in my wife's (housewife) name ?
Regards,
Rajiv.
Nikhil Kaushik
(Expert)
11 May 2014
while under construction there is no issue. once it is completed, it shall also be taxed as let out or deemed let out under income from house property.
you can hive out if you wish to, its your call.
you can hive out if you wish to, its your call.
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