Two house properties
This query is : Resolved
ANIL SHARMA
(Querist)
10 September 2013
sir i have a client of mine who stays in pune and has two housing loans one house in in kerala and the other one in pune where he stays, the house in kerala is occupied by his parents. now can he show that the house in kerala is self occupied and the house in pune is rented, and take tax benefits accordingly
CMA Ramesh Krishnan
(Expert)
11 September 2013
yes. when there is 2 house property, it is assesse option to declare which one is self occupies and which one is let out, so you can declare as your tax benefit
CA Pallav Singhania
(Expert)
11 September 2013
Agree with the expert,
If you own more than one property, you can designate any one of these as self occupied property and pay tax on the others.
It is advisable to choose the property where you have to pay minimum municipal tax as self occupied property.
You can change the self occupied property every year.
If you own more than one property, you can designate any one of these as self occupied property and pay tax on the others.
It is advisable to choose the property where you have to pay minimum municipal tax as self occupied property.
You can change the self occupied property every year.
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