Hi,
Please help me in determining the following:
1. We have a house A which is self occupied and house B for which we are expecting to get possession in January 2015. We are not planning to put house B on rent or to shift there. Do we have an option of declaring house B as self occupied and showing notional rent income on house A?
2. Can we claim the interest paid for the full year for tax saving for the house we show as rented, or we will have to show the interest for only the last 3 months, assuming we get possession in January 2015. In short, does it matter in which month we get possession during the financial year?
3. Where do we get the notional rent value in order to calculate the NAV for the property?
CAclubindia
