Notional rent on joint property?

IMHO both can seperately show individual property as Self occupied to save tax. 

Originally posted by : Uttam
	IMHO both can seperately show individual property as Self occupied to save tax.

But will it be allowed? Technically speaking I would own half of the property

Let us say you are staying in House H1 and your brother is staying in H2 [joint property] with municipal taxes MT1 and MT2 resp. I presume there is no rent and interest on borrowed capital is zero.

1] In your return if you take H1 and 50% of H2  then  income from house property will be

    -( 0.3 x MT1 + 0.15 x MT2) in ur case and in ur brothers case  -( 0.15 x MT2)

2)  if you take H1 only and H2 to be taken by  brother then  income from House property will be

    - 0.3 x MT1 for ur case   and ur brothers  -0.3 x MT2. 

Please see that annual letable/rent receivable and the amount of rent which cannot be reliazed  are same. so that they are set off against each other. 

I hope I am correct.

Shiroor

Structural Consultant for design of Bridges