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Doubt
A person is a citizen of USA & is a resident and ordinarily resident in India.He has a self occupied property in USA as well as in India.He stays in both the properties during the year,then why only one will be treated as self occupied even though the other one is not let out?
Replies (2)
Nidhi the Income Tax department wants revenue from the taxpayers. So as per me, the concept behind it should b that y the property should b kept vaccant, if one can earn from it by letting it out. By not letting out the property the government is also getting no Tax (which it could earn from it). And an opportunity to provide residence to a personel is also NIL. Thats Y the government wants to encourage earning. As a result of it the revenue (tax) will b increased in the Govt. Account.
That's y it is treated as deemed to b let out.
No body could give a better explanation than this..tysm
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