Income from house property
This query is : Open
06 July 2016
Hello, my question is regarding Income from House property.
Suppose i stay in Thane, where i have 2 properties say A & B. Property A is self occupied & B is deemed to be let out property. I have loans on both houses (A&B). For Tax purposes it is more beneficial for me to show as Property A Deemed to be let out and Property B being Self occupied. Can i show it such a way to get tax benefits?
Current Status: Both Properties in Thane
Property A: Self occupied
Property B ; Deemed to be let out
For Income tax purpose: More beneficial
Property A: Deemed to be let out
Property B: Self Occupied
Can i adopt the second method which would be more beneficial to me???
Suppose i stay in Thane, where i have 2 properties say A & B. Property A is self occupied & B is deemed to be let out property. I have loans on both houses (A&B). For Tax purposes it is more beneficial for me to show as Property A Deemed to be let out and Property B being Self occupied. Can i show it such a way to get tax benefits?
Current Status: Both Properties in Thane
Property A: Self occupied
Property B ; Deemed to be let out
For Income tax purpose: More beneficial
Property A: Deemed to be let out
Property B: Self Occupied
Can i adopt the second method which would be more beneficial to me???
06 July 2016
Yes. Not an issue. And file return accordingly mentionong the adresses of houses
06 July 2016
But note that. In case ur file opens, u need to establish the same before ITO
06 July 2016
Okay. Thank you Sir.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- Applicable TDS rate for sale of property in Nov 2024
- Inventory of finished goods
- GST ON EXPORT COMMISSION
- RCM INVOICING FROM NOV-2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- ITC EXCESS CLAIM + RCM NOT PAID...BOTH FOR FY 2020-21......PAID IN FY 2024-25....EFFECT
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
Trending Online Classes
CAclubindia
