Income from House Property

Hi Nihkil,

As per your query, the discussion is as follows:

Section 23(2),23(3) & 23(4) :

(A) The annual value of a house or part of a house shall be taken to be "nil", if-

(1) it is in the occupation of the owner for the purpose of his residence:or

(2)it cannot actually be occupied by the owner due to his employment,business or profession carried on at any other place & he has to reside at that place in a building not belonging to him. (Section 23(2)).

(B) The annual vale of a house or part of a house, referred to in(A) above, shall not be taken to be "nil",if-

(1) the house or part of the house is actually let during the whole or any part of the previous yr; or

(2) the owner derives any other benefit from that house(Section23(3))

The annual value in respect of such house will be computed u/s 23(1).

In your case assessee can claim any one house of his choice as SOP. Other 2 houses will be considered as DLOP.

For better first calculate as if all the 3 house are DLOP,from those the house which has a max tax liability consider that as SOP & let the other houses be considered as DLOP.

Regards,

CA Rachit K Patel

Yes assessee can claim any of the property as SOP

thanks rachit and amit.. but do u have any precedents or caselaws.. which is releveant to this and not section 54.. i have found some but they talk about its relevane to sec 54 and 54 F n i will have to derive logic out of that.. so if theres any precedent or case law with respect to my case particularly? thanks again Regards

i agree with mr.rachit and mr.amit