Mr.X owns two flats in his name and he stays in a flat , which is registered in the name of his wife.
His two flats are in his home town and fetch a minimum rent of Rs.3,000/p.m. only(for each flat).
Whereas his wife flat, is in metro city and in that area the rent is around Rs,20,000.
Both Mr.X and Mrs.X are not yet the assessee. Mr.X stayed in gulf countries for the last 9 years and purchased those flats and planning to return to india by this year end.
How we can advise him for the tax plan.
CAclubindia
