Hi,
I own only one apartment, which I have given on rent.
I live in another house with my brother and the rent is paid by my brother. So I don't claim HRA for this.
Do I have to pay tax on the rent that I get from my own apartment ?
Or is there a concept of 'deemed' self occupied, because I own only one house? And so there is no tax on it?
(Just as a vacant second house is deemed let out, and one has to pay tax on the notional value of the income)
regards,
Div
If you have morethan one HP then you can claim One House as Self occupied
But, I have only one house, and I have given that on rent.
Can I claim that as self occupied and not have to pay the tax on the rent?
(I myself stay with my brother in his house and so dont pay any rent there)
regards,
div
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