Income from House Property
Nikhil Agrawal (Article trainee) (52 Points)
21 July 2009Nikhil Agrawal (Article trainee) (52 Points)
21 July 2009
CA Rachit K Patel
(Chartered Accountant)
(1503 Points)
Replied 21 July 2009
Hi Nihkil,
As per your query, the discussion is as follows:
Section 23(2),23(3) & 23(4) :
(A) The annual value of a house or part of a house shall be taken to be "nil", if-
(1) it is in the occupation of the owner for the purpose of his residence:or
(2)it cannot actually be occupied by the owner due to his employment,business or profession carried on at any other place & he has to reside at that place in a building not belonging to him. (Section 23(2)).
(B) The annual vale of a house or part of a house, referred to in(A) above, shall not be taken to be "nil",if-
(1) the house or part of the house is actually let during the whole or any part of the previous yr; or
(2) the owner derives any other benefit from that house(Section23(3))
The annual value in respect of such house will be computed u/s 23(1).
In your case assessee can claim any one house of his choice as SOP. Other 2 houses will be considered as DLOP.
For better first calculate as if all the 3 house are DLOP,from those the house which has a max tax liability consider that as SOP & let the other houses be considered as DLOP.
Regards,
CA Rachit K Patel
CA CS Amit Borade
(Chief Accountant)
(2828 Points)
Replied 21 July 2009
Yes assessee can claim any of the property as SOP
Nikhil Agrawal
(Article trainee)
(52 Points)
Replied 22 July 2009
Dintakurthi Tirumala
(CA FINAL)
(15994 Points)
Replied 06 October 2009
i agree with mr.rachit and mr.amit