This discussion clarifies the rules around declaring two houses as self-occupied for tax exemption purposes. It specifically questions whether the exemption applies from Assessment Year 2020-21 or 2021-22. The conversation also delves into the definition of a 'self-occupied' property, including whether a house left vacant for reasons other than work relocation can be considered self-occupied.
07 January 2021
Please tell me exemption on 2 house property as self occupied is applicable from which A.Y 2020-21 or A.Y 2021-22. Also what can be self-occupied house? acc. to sec 23(2)- value of house used for own residence, or unoccupied house due to work in other place (and living in rented house in such other place).
So,is a vacant house not due to work in other place - is not self-occupied??