Hello, just had a basic query. I have one house in my name thru durect allotment, other house was in my faters name, he died in 2007, the papers are still in his name, it has not been transfered to my name thru inheritance and it is lying vacant since then. Will this house be considered mine and do i have to pay notional rent on this?
you cannot keep second house as a self occupied. if it is not given on rent u have to show it as deemed let out property. it doesnt matter wheather it is trf on ur name or not
Get the property transferred in your name.
Does this mean that the moment parents expire, from that very day his property showuld be shown in my returns?
| Originally Onted by : Uttam | ||
 |
Does this mean that the moment parents expire, from that very day his property showuld be shown in my returns? |  |
Hi Uttam - You will be deemed to be a representative assesse under section 161 (assuming that you are the only beneficiary of your father's house property) after your father's death. The notional rent of such property shall be added in your income as income from house property.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
View Details
CAclubindia
