I have two properties:
House 1: Rented out @ Rs13,500/month, no home loan interest.
House 2: Self occupied in reality, Home loan interest charges of approx 3,00,000 Rs/annum.
Does income tax rules allow me to show House 1 as the self occupied and house 2 as deemed let out? Asking as this will obviously give me better tax benefits.
Thanks in advance for responding,
Gopal
The concept of deemed let comes when there are two house and both are not on rent, In that case choice is yours.
But in this case one house is actually on rent so you cannot show that as self occupied.
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