Income from house property

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 November 2013 If a person owns only one house property and it is not let out..and neither self occupied other than reasons of employment, business or profession then will it be covered for taxability under IHP?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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04 November 2013 Incase house is located the city where assessee staying then you can consider as self occupied

Querist : Anonymous

Querist : Anonymous (Querist)

04 November 2013 and in caSE IT IS IN SOME OTHER CITY THEN DEEMED LET OUT?

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CA Pallav Singhania

CA Pallav Singhania (Expert)
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04 November 2013 If you have a single house which isn't let out its deemed to be self occupied...

Querist : Anonymous

Querist : Anonymous (Querist)

05 November 2013 then why does section 23(2) specify the reasons only as employment, business or profession? are the other reasons or general reasons mentioned in an other section?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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05 November 2013 Only business or employment reason is mentioned in the section