Rental income

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374 Points Posted on 15 August 2020
I own 3 house each house as 2 floors so I live in a floor and rest all I will recieve rental income for calculating nav can it be zero for first 1 house though I recieve income in 1 house which I stay too.Is it on floor basis or house basis
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On 15 August 2020 at 22:46 Report
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This discussion clarifies how to treat rental income for tax calculations when you own multiple properties. It explains that you can designate some houses or even floors as partly self-occupied and partly let-out. The advice suggests showing higher-rent units as self-occupied to potentially reduce your tax liability.

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43 Points Posted on 15 August 2020
Please read income from House property and sec 24
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On 15 August 2020 at 23:00
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Practising CA
8954 Points Posted on 15 August 2020
You can show 2 houses as partly let out and party self occupied... and for remaining 1 house - show 1 floor as let out and other floor as deemed let out.

Show higher rent flats as self occupied.
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On 15 August 2020 at 23:01

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