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Leased out house property

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vijendra

article trainee

121 Points Posted on 20 July 2023

help me out pls
how to take for tax on leased house property. House is given for lease for 12 lakh for 3 years
Will it has to be taken for income under house property. how n how much to take as income under income from HP. leased house property taken on loan.
D same owner of the above lease house property is in rented house can he claim for HRA

Thanks in advance

Replies (2)

Quick Summary

This discussion explores the tax treatment of a house property given on lease for three years with a refundable deposit. It questions how to calculate and declare income from such a lease under 'Income from House Property'. Additionally, it investigates whether the owner, who resides in a rented house, can claim House Rent Allowance (HRA) and clarifies the distinction between leasing and letting out for tax purposes.

sabyasachi mukherjee

Profession

19978 Points Posted on 20 July 2023

House property cannot be leased

vijendra

article trainee

121 Points Posted on 21 July 2023

Help me out pls
how to take for tax on letout leased house property. House is given for lease for 12 lakh (refundable) for 3 years
Will this letout house property has to be taken for income under house property. how n how much to take as income under income from HP.any notional basis.this letout leased house property taken on loan.
D same owner of the above lease house property is in rented house can he claim for HRA

Thanks in advance