I have two queries kindly help:
1- If a person is having two house properties (One at Indore & other at Pune). He resides in Indore & Property at Pune is left vacant. Then is that person eligible to claim deduction of principal amount u/s 80C for Pune house? Also can this property be shown under the head partly let out partly vacant or anything else needs to be done as we'll have to show interest deduction in return.
2- If a person has three commercial offices & he gives these properties on lease to his wife & son. Then, in this situation will any such issue of diversion of income will arise? If yes, is there any other way to deal with the situation?
CAclubindia
