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incometax on house property income for f.y.2019-20
I have two houses. One is self occupied. Other house is recently taken possession. Second house is still vacant as it is far away from my place. But I am declaring income from second house as notional rent to my employer and loss income from the property is being set off against my salary income. As there is a change in IT rule for f.y.2019-20 as per the budget announced on 1.2.19, can I claim the second house as second self occupied house thereby I can claim more loss income from the second house from the next fin.year. Please clarify. Thanks.
Replies (3)
You can declare the second property as self occupied property, but the loss will be restricted to Rs. 2 lakhs only.
As Per Budget Proposal You can claim two Houses as self occupied.
Budget is get final node till date.
Thanks to M/s Ashok Kumar and Internet Sunda
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