Self-occupied property in DTC

Hi

pl note the following:

U/s 23(2)(a) where the property consist of one house in the occupation of the owner for his own residence, the annual value of such house shall be taken to be nil, if following conditions are satisfied:

- the property (or part thereof) is not actually let during whole (or any part) of the previous year ; and

- no other benefit is derived therefrom

* Where the person has occupied more than one house for his own residential purposes, only one house(according to his own choice) is treated as self occupied and all other houses will be deemed to be let out and taxable income will be calculated in the manner explained.

Hi Shashi,

Thank you for telling me the provision but it is under existing Income tax act,1961.

But I asked you about New Direct taxes code,2010.