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New tax Regime - More than 2 Housing Property

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SKundu

Service

2 Points Posted on 11 April 2023

Hi,

If you have 3 owned Houses and as per Old Tax regime you were declaring 2 as self-occupied and 1 as "Deemed Let Out", how do I need to declare the same under New tax regime?

Do I need to declare the "deemed Let out" at all under New Tax Regime?

Best Regards,

Replies (2)

Quick Summary

Under the new tax regime, if you own more than two housing properties, the rules for 'deemed let out' properties remain similar to the old system. You can declare up to two properties as self-occupied, and any additional properties will be considered 'deemed let out', regardless of whether they are actually rented out.

Rama chary Rachakonda

Master in Accounts & high court Advocate

9620 Points Posted on 11 April 2023

Deemed Let out: When a taxpayer owns more than two house property, the law mandates that only two (Prior to Budget 2019, it was only one property) such properties can be treated as self-occupied while the third one (irrespective of whether let out or not) will be deemed to be let out.