20 July 2009
I have two residential properties (one in my name and one in wife's)in Pune and one in Mumbai (wife's name). We live and have work places in Pune. I am showing property in my name in Pune as self-occupied. What are the options available to my wife? Can I and wife show seperate properties in Pune as self-occupied? Can my wife show property in Mumbai as self-occupied? Will it make any difference to show property in Mumbai Vs in Pune as deemed let-out property?
23 July 2009
Your wife is having workplace in Pune. You may take Nil value of SOP of her other property at Mumbai as she is residing in a property which is not owned by her. In such situation her Pune Property will be deemed let out property. Condition: Mumbai Property has not been let out and no other benefit has been derived from it. Please also refer Section 23(2)(b)
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