Hello Guys, I have quite an interestign question to you.
There is a house property that is co-owned by two people. One of them starts a business. This guy uses this house for his business purpose while the other co-owner is not interested in this in any way. Both of them own another house which is teated as self occupied property. How do you treat this case?
Any HP or part thereof used for the purposes of business\.profession does not come within the purview of "Income from House Property". They shall be entitled to take the benefit of SOP in respect of other HP. IF the other co owner [say MR B]is not interested in the business and the ENTIRE 100% of Co owned property is occupied by one of the co owner [say Mr A], then the share of Mr. B shall be treated as let out
I agree with Pawan Jain
Yes and if entire part is used by A then he should pay rent to B for the balance property he is using
so for a will the portion he is using what will it be,can he claim deduction us 36
CAclubindia
