Facts: For AY 2019-20, I lived in a house that I purchased in 2010 up to 28-Feb-2019 (House A). There is no Loan outstanding against this house. I bought a new house that was registered into my name on 4-Dec-2018 (House B). I moved into this new house on 1-Mar-2019 and have lived here since then. There is a Loan against this house with interest from December to March ~ 1.5 Lakh. At 31-Mar-2019, I owned both the houses.
Question -
1. If I show House A as deemed let out in my return, will the annual value be just 1 month's rent or the full year?
2. If I show House B as deemed let out, Annual Value will have to be just for four months (ie only from the date when I was registered owner of the hosue)?
In either case, I think I will be getting full interest on my loan on House B, plus the standard deduction of whatever annual value. Correct?
Thank you for your help.
CAclubindia
