venkatesh c (Audit) (63 Points)
24 August 2008Assessee is having 2 house properties.
One is where he is employed and the other is in his native place.
One is occuped by himself and his aged parents are residing in the other one.
No rent is collected.
Can he claim both as self occupied under any special provision?
It has been done so earlier.
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 24 August 2008
Hi Venkatesh
In the income tax you will get a exemption of one self occupied house for others you need to pay tax i would like to suggest you calculate the tax liability of both the house whereever you need to pay higher taxation just take a exemption of that house
Do your calculation with normal procedure
Ramesh BN
(Accountant)
(0 Points)
Replied 25 August 2008
| Originally posted by :C.A Amit Daga | ||
| " | Hi Venkatesh In the income tax you will get a exemption of one self occupied house for others you need to pay tax i would like to suggest you calculate the tax liability of both the house whereever you need to pay higher taxation just take a exemption of that house Do your calculation with normal procedure |
" |
M.Arshad
(JOB)
(51 Points)
Replied 25 August 2008
Amit has rightly said .you will get exemption for one self occupied house only.
CAclubindia
