11 February 2010
Dear all, If HP is Partly used for LOP and partly used as SOP during prevoius year.. then what would be the treatment for that House Property.?
in such case is it considered as LOP for Whole Year....? pls suggest
11 February 2010
Kindly clarify whether same property is party sop and partly lop. or the property is sop for part of the year and lop for the remaining part of the year
11 February 2010
I think property is SOP for part of the year and LOP for remaining part of the year. Right???
If yes, then you are right that in such case it is considered as LOP for whole year and computation of capital gain will be according to sec 23(1), i.e., Property let-out during the whole year.
However, in this case, whatever Actual rent received that will be compared with expected rent without multiply with the period of SOP.
CAclubindia
