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.
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.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 270A penalty
- GST Registration Application -Rejected
- GSTR 9C- Table 9
- International transfer pricing- -> father entity vs son entity ->WHERE NO mutual say in management
- Tax liability on gift amount given to blood relation
- Gst registration rule 14A
- Query on solved queries
- Reimbursement of expense- GST applicable or not
- When was the effective CA partnership deed? Can I use old FRN until new FRN alloted by ICAI?
- Form 104 stamp paper deed
- PLACE OF SUPPLY FOR COMMISSION AGENT
- Transport service POS
- E INVOICE, E-WAY, INVOICE
- GST RATE ON CONSTRUCTION BRICKS ?
- To Whom the Invoice should be Raise to
- E stamp paper purchase
- Problem in filing Returns for International workers in EPFO
- Clarification for reversal of IGST on transfer of duty-free imported goods from EOU to DTA unit
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
