Can i show let-out as self-occupied and vice versa?

Dear CA's

I have home loan on self occupied (SO) and Let out(LO)  house.

Interest I ma paying on SO property is much higher than LO property.

 

Can you declare SO proerty as LO and LO property as SO while filign the retuens?

Appreciate your valuable comments.

 

thanks

Gangadhara

Replies (4)

As per my knowledge, if the property is being actually occupied by the tenant, then you cannot show the same property as Self Occupied and vice versa.

But if your Property is Deemed to be Let Out, then you can show the same property as Self Occupied and vice versa as a part of your Tax Planning.

 

 

Regards,

Devendra Kulkarni

No u cant, if u have self occupaied property then u cant show it as unoccupied property.

How ever if u have more then one property un-occupaied & non of the property as occupied then u can selecty any one property as self occupied which if more benificial to u. 

Thanks much Devendra and Sayed for the valuable comments.

Originally posted by : Devendra

As per my knowledge, if the property is being actually occupied by the tenant, then you cannot show the same property as Self Occupied and vice versa.

But if your Property is Deemed to be Let Out, then you can show the same property as Self Occupied and vice versa as a part of your Tax Planning.

 

 

Regards,

Devendra Kulkarni


agree with devendra

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