11 July 2023
Dear Sir / Madam, My query is as follows:
Ms A is co-owner with her mother in Flat No. 1 & Flat no.3 on 50:50 basis each. She is also a co-owner with her Grand mother in Flat No.2 & Flat No.4 on 50:50 basis each.
All flats are vacant. Hence For Ms A, there are in all 4 properties whereas her mother and her Grandmother have 2 properties each on co-ownership basis with Ms A.
So my question is: since all flats are vacant, for her mother & her grandmother, 2 flats will be treated as SOP.
But For Ms A, 2 flats will be SOP & 2 flats will DLOP.
So how to show rent of DLOP flats in the returns of Ms A, her mother & her grandmother ? because suppose rent is Rs. 10000/- pm each for 2 flats then for her share it will be 5000/- pm for each flat. But those flats would be SOPs for her Mother & Grand-mother. Then are we supposed to show rent in the return of Ms A only and SOPs in other two cases? Bit confused....
CAclubindia
