Don’t make LLP a taxing conversion
The Limited Liability Partnership (LLP) Act, 2008, was expected to provide a big boost to the formation of LLPs that were seen as one of the modern forms of doing business in the developed world.
While few firms registered as LLPs, there have been very few existing firms or companies that have expressed willingness to convert to an LLP.
Source www.forum4finance.com
But what if a person already has 1 self occupied house property & now purchases a jointly owned property with his wife.
What will be the tax implication on him & his wife.
Which house to be treated as self occupied & which as let out.
For the wife the only option is to take the jointly owned share as self occupied or is there any other remedy?
Plz reply..
R P S K & Associates
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