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I own a house property which is vacant and in the same city I live in rented house. So while filing return that house property will be let out, deemed let out or self occupied? as I am also claiming hra. can I also claim deduction on interest on loan paid u/s 24 ?
Replies (7)
| Originally posted by : PRITI | ||
 |
I own a house property which is vacant and in the same city I live in rented house. So while filing return that house property will be let out, deemed let out or self occupied? as I am also claiming hra. can I also claim deduction on interest on loan paid u/s 24 ? |  |
That house property will be DLOP
You can claim both 24(b) and HRA
So when I take it as dlop, it's asking for annual letable value or rent received or recievable. But as it is vacant I do no receive any rent. So what shall I do?
| Originally posted by : PRITI | ||
|
So when I take it as dlop, it's asking for annual letable value or rent received or recievable. But as it is vacant I do no receive any rent. So what shall I do? | |
Let rent received be nil
it is not accepting. only if I take as self occupied its ok. will there be any problem if I take it as self occupied?
Hi Priti,
Since, your house is not occupied, it can be treated as UNOCCUPIED PROPERTY. So, you can show that property as self-occupied and take the annual value as NIL as per section 23(2).
The concept of deemed let-out property arises only when you own two or more house properties.
You can also claim HRA and Interest on loan u/s 24(b) limited to Rs. 2,00,000.
Since, your house is not occupied, it can be treated as UNOCCUPIED PROPERTY. So, you can show that property as self-occupied and take the annual value as NIL as per section 23(2).
The concept of deemed let-out property arises only when you own two or more house properties.
You can also claim HRA and Interest on loan u/s 24(b) limited to Rs. 2,00,000.
Thank you :) That clears my doubt, just wanted to be sure:)
Agreed with response of members
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