If an assesse have two residential house property.
1. Used for own residential purpose.
2.Idle and even not given on rent and it is locked for whole year (purchased for price appreciation purpose)
Whether Second house is taxable as "Deemed to be let out"?even empty for whole year?
Yes.. Agreed with Mr. Sunil Ahir.
I too agree with Mr. Sunil but would like to add one more point that you should choose the House showing lesser HP income.
| Originally posted by : Sunil Ahir | ||
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Yes. One of the house property would be considered as “deemed let out” based on Assessee’s choice & its Annual Value would be taxable under House property income, [even if it is locked & not rented for the whole year], this is becoz... what is Taxable under House Property Income is not the “Rent Income” but the “Annual Value” of the House Property. |
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agree
Yes... the municipal value will usually be taken and will be taxed...
choose the lowest one of the two...
Yes agree with Naveen
yes any one house should be taxable as IFHP................
Sorry!! IFHP stands for????
| Originally posted by : AJAY | ||
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Sorry!! IFHP stands for???? |
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IFHP STANDS FOR INCOME FROM HOUSE PROPERTY.
Thanx for your answer.
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