House property 🏠


Sunil Ahmad (Student)     18 November 2017

Sunil Ahmad
Student 
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I had two houses A&B.
*self occupied in A for first half year(1/1/2017 -30/6/2017)
and for second half year (1/7/2017-31/12/2017)house A was given for let out.
*House B for the first half year (1/1/2017-30/6/2017) given for let out.
self occupied in B for second half year(1/7/2017-31/12/2017).
#Explain me about tax treatment????

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CA PRADEEP C B (CA in Practice)     18 November 2017

CA PRADEEP C B
CA in Practice 
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Both houses treated as let out but one of those house can be opted as self occupied. It is better to opt the house, which have more net annual value, which will limit your tax liability.

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Om Goyal   18 November 2017

Om Goyal

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opgoyal
treat high value house as self occupied prop. 2 nd house rented or will be treated as deemed rental prop by it . out of total 12 month rent, claim 6 months period reny as vacanacy all. PL

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Sushritha (Student)     18 November 2017

Sushritha
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both are treated as let out properties

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Sunil Ahmad (Student)     18 November 2017

Sunil Ahmad
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Provision-If the assessee has occupied more than one house for his own residential purpose,only one house is treated as self occupied and all other will be "deemed let out".

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Sushritha (Student)     18 November 2017

Sushritha
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house property let out for part of the year n self occupied for part of the year...will be treated as let out for complete year

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Sushritha (Student)     18 November 2017

Sushritha
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if the concept of deemed let out occurs...then the house property should not be let out....it should be only self occupied

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Sunil Ahmad (Student)     18 November 2017

Sunil Ahmad
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One house as self occupied which value is higher. And other should be let out for rent period and the remaining months as vacancy.


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