I want to understand following with regard to "Deemed to let out property"
AS per Act One property is allowed to assessee to declare as SOP . What will happen when assesse has 5 Flates but all jointly together with commen wall whether it will be treated as once property or 5 property.
16 November 2009
The five flats should be joined together as one dwelling unit to be considered as one flat. In addition there is a total area restriction of 500 square meters (for wealth tax at least). I will just check whether it is applicable for SOP also and let you know. maybe more experts will have an immediate answer to this.
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