Hi,
I have 3 flat , one is self occupied since 2007 and second purchased on May, 2013 as pre constructed.
I got possession of that Apr 2018. I had given it on rent @ 23000. There is EMI of 75000 rs per month on the second flat. Total interest paid till date is 750000 rs from 2013 to 2018. Muncipal rax deducted is @ 14500 rs per year. Both property is on joint name with my wife at ratio of 50 percentage.
3rd house , we got from inheritance after my mother demise in 2018 , 1 st april. It is rented @ 9000rs per month with muncipal tax 2000 rs. It is also on our both name.
What is tax liability on 2nd and 3rd house
CAclubindia
