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House Property

Tax queries 266 views 3 replies
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Financial Analyst
27 Points Posted on 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?

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On 05 October 2020 at 22:15 Report
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B.Com
136 Points Posted on 05 October 2020
Yes, that would be the best option to do so, but if both properties are vacant then where does he lives?
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On 05 October 2020 at 22:41
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Tax and Business Consultant
11616 Points Posted on 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
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On 05 October 2020 at 23:05
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Financial Analyst
27 Points Posted on 05 October 2020

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

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On 05 October 2020 at 23:32


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