Hi,

One of my freind is having a residential house in navi-mumbai. Due to his job he stays in mumbai at claims HRA. Now he wants to buy two (2) residential property in mumbai. Bothe in the joint name with his wife. His wife doesnot own any house anywhere.

House at Navi Mubai - HUSBAND

2 new houses at Mumbai  - BOTH IN JOINT NAME

My questions are -

1. Will both the houses will be deemed let out in his name ?

2. Can his wife claim one house as deemed to be let out (though she doesnt own any house apart from this) , so she can claim maximum benefit of Interest?

3. what abt Wealth Tax.

4. Tax implications

thanks