Second home: interesting question

Dear  Pardeep,

You can choose any property self occupied as per your discretion and other properties will be deemed to be let out.  

As per section 23(2) of the income tax act, 1956, an assessee can claim the concession only in respect of one residential house property.and all other house will be treated as deemed let out houses. 

So alternative propoerty chosen can change from one year to another year depending upon the benefit available to assessee. therefore you can choose any property self occupied or let out as per your benefit.

Regds

Originally posted by : lukesh
	Dear  Pardeep, You can choose any property self occupied as per your discretion and other properties will be deemed to be let out.   As per section 23(2) of the income tax act, 1956, an assessee can claim the concession only in respect of one residential house property.and all other house will be treated as deemed let out houses.  So alternative propoerty chosen can change from one year to another year depending upon the benefit available to assessee. therefore you can choose any property self occupied or let out as per your benefit. Regds

Thank you for your reply. 

Can you also tell me my best option to maximize my tax savings? This property is under construction and will be ready in 3 years. Appreciate all your help!