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House Property

Deepak (Financial Analyst ) (24 Points)

05 October 2020  

My Client have two properties, both were vacant in f.y. 2019-20. Shall I treat both of them as Self Occupied properties?

 3 Replies

vinayak landge (B.Com) (131 Points)
Replied 05 October 2020

Yes, that would be the best option to do so, but if both properties are vacant then where does he lives?
1 Like

Sagar Patel (Tax and Business Consultant)   (11391 Points)
Replied 05 October 2020

Where a person holds two house property and both are not actually let out for the whole or part of the year, then both the properties can be treated as self-occupied and gross annual value shall be taken to be NIL as per Section 23 of the Income Tax Act, 1961
1 Like

Deepak (Financial Analyst ) (24 Points)
Replied 05 October 2020

He is working in Mumbai Port Trust. Company provided him accommodation. 

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