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)
(136 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?
Sagar Patel
(Tax and Business Consultant)
(11611 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
Deepak
(Financial Analyst )
(27 Points)
Replied 05 October 2020
He is working in Mumbai Port Trust. Company provided him accommodation.
Recent Topics
- Richest Chartered Accountant in India alive
- GST LIABILITY FOR DENTAL PRACTICE
- Concessional GST rate
- Status suddenly changed to Processed with Demand d
- Tax on STCG and LTCG
- Can father lets out his commercial property to son
- Report Swiggy and Zomato Sale
- GST-R1 2021-22
- Place of Supply under GST when recipient is regist
- Income tax Basic exemptions and Capital gains
Related Threads
Trending Online Classes
CAclubindia
