Deemed rental income

Hi Shalini,

As per Income Tax provision, where assessee own more than one house, one house shall be deemed let-out whichever is more beneficial to the assessee.

Also as per the fact provided by you, the house will be co-owned by your husband with his brother. Hence, if the sharing ratio is known, as per Sec. 26, only that part of income shall be assessable which is related to your husband.

Thus, you can opt for the beneficial one.