House Property Income

KIYOSH (TAX CONSULTANT) (332 Points)

19 April 2011  

Due to redevelopment of building an individual take home on rent & paying 10,000/- as rent.

He is getting 6,000/- as a rent from builder who is redevelping building.

Now what will be the effect in the Income tax return of Individual ?

Is he claim loss under House Property Income or not ?

If yes than can it be adjusted against any other head of Income ?

Regards,