Persons P1 and P2 have 3 houses H1, H2 and H3 in JOINT (50-50) names.
[I have heard that if anyone posses more than one house, then the person needs to pay tax on the REALISED RENT of any one of the house.]
In FY 2017-2018 :
P1 and P2 lives together in H1.
H2 and H3 are given on rent for amounts A2 and A3 respectively.
P1 shows half amount i.e (A2/2 + A3/2) in his ITR.
P2 shows half amount i.e (A2/2 + A3/2) in his ITR.
In FY 2018-2019 :
P1 lives independently in H1.
P2 lives independently in H2.
H3 is given on rent for amount A3.
In this case, P1 and P2 will show how much amount in their ITRs?
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