I am living in my own house in Bangalore and recently purchased house in Mimbai where my parents are living, no loan on either house. Do i need to show notional rent income from my Mumbai house occupied by my parents?
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Income form house
Replies (2)
If both houses are on your own name, income from one would be taxable.
Yes, If both the houses are on ur name then 1 house is considered as deemed to let out property. u have to pay tax on that.
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