Hi Team,
I have two house, one is in my home town and another is at place where I work.
1. Hometown house, co-owned with my Father and they live there with my brother. Municipal Tax 14,000 paid and Rateble value Rs. 20,000
2. Second house baught in April'13 and started living their since July'13. before that I was staying in rented house in the same city.
3. Second house I have paid interest on home loan of Rs.515,000 and Municipal Tax of Rs.24,000. Rateble value of this house is Rs27,000. Expected rent for this kind of property in near by area is Rs12,000 per month.
In the best interest I am considering first house as a SOP and second as a deemed to be let out.
Can you please guide me which property I should consider as a self occupied property.
Second question is my TDS for FY 2013-14 already deducted and if my calculation is ok then it will give me refund of Rs. 100,000, what will be the issues/difficulties in getting the refund.
