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House Property

Deepak (Financial Analyst ) (27 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?

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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?

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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

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