Save Rs 499 on a 2-Year Ad-Free CAclubindia Pro Membership. Subscribe Now!

Confusion about Self occupied property ?

Others 322 views 3 replies

Kuldeep Singh

216 Points Posted on 13 December 2021

How many self-occupied house property exempt from tax ?

Before Year 2019, we could exempt only 1 self-occupied property but i found on google that 2 can also do after Year 2019.

but when i looked on Income tax website then there was only 1 showing in given below link:

https://incometaxindia.gov.in/_layouts/15/dit/pages/viewer.aspx?path=/documents/left+menu/ind-income-from-house-property.htm&isdlg=1&path=/documents/left+menu/ind-income-from-house-property.htm&isdlg=1

Please share updated link here, i can not find update link where 2 self-occupied mentioned

Thanks

Replies (3)

Tanuj Chandra Saxenaa

Company Secretary

7085 Points Posted on 13 December 2021

Only one self occupied house property is exempt from tax.

Kuldeep Singh

216 Points Posted on 13 December 2021

But in given below link, some experts said that two self-occupied property as per section 23(4) as amended by Finance Act,2019.

https://www.caclubindia.com/experts/self-occupied-house-property-2779849.asp

Please reply who is 100% sure...

sabyasachi mukherjee

Profession Business

28207 Points Posted on 14 December 2021

If an assesse has two house property , one is assumed to deemed to self occupied.
Now the pertinent point is are u deriving any income from house property.
If you are earning income from both then one is assumed to be "deemed to be let out for commercial or residential purposes"
Another point is whether the same is above the threshold of income.