08 December 2009
Dear Sir, If a person is a salaried person and is staying at the company quarter and has a house which is let out. Can he still show that house as self occupied since one house can be shown as self occupied or is he liabile to pay tax on such rental income? Please Advice Thank You
08 December 2009
He is liable to pay tax on rent income as he is not complying with subsection 3 of section 23 of the Income Tax Act.( Kindly refer subsection 2 of section 23 also)
CAclubindia
