Remaining house cannot be treated as house property becoz he is engaged in the business of selling of houses so the remaining houses should be treated as closing stock in Hand.
Of course the balance houses are closing stock in hand.
The annual value of property shall be charged to tax U/H INCOME FROM HOUSE PROPERTY EVEN IF
The property is held by the assesse as stock in trade (until such stock in trade is sold)
The assesse is engaged in the b/s of letting out of property on rent/lease
ADY & CO.
New Delhi
Graduate (Any)
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Saini Pati Shah & Co LLP, Chartered Accountants
Mumbai
CA Final
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N N V Satish & Co.,
Hyderabad
CA Inter
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Krea University
Chennai
CA
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CCI
Pro
CAclubindia
