bhupeshajmera (Manager - Taxation ) (47 Points)
04 February 2011I HAVE TWO HOUSE IN MY NAME . I WISH TO KNOW THE THE TAX IMPLICATION UNDER FOLLOWING CASES :
1) BOTH THE HOUSES ARE VACANT AND NO ONE LIVED THERE ANYTIME DURING PREVIOUS YEAR OR ANY YEAR.
2) I LIVE IN ONE OF MY HOUSE AND THE OTHER IS VACANT AS LIKE IN ABOVE .
3) I LIVE IN THE HOUSE AND MY RELATIVES OR ANY FRIEND LIVES IN THE OTHER AND I DONT TAKE ANY RENT FOR THAT .
KINDLY HELP IN KNOWING THE TAX IMPLICATION IN THE ABOVE MENTIONED MENTIONED CASES . THANK YOU !
Asif Khan
(Taxation executive)
(410 Points)
Replied 04 February 2011
In all the cases you hav to choose one property self occupied and the other propety should be considered as deemed let out on rent even if it is vacant or your relatives stays there from whome ypu dont take rent.
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