Assessee is getting rent from indus tower and Bsnl tower as he is given land on lease for monthly around Rs.15000 & 6500. And he is having 2 houses in his name.
1. When filing last year Income Tax, doesn't disclose 2 houses. There is no HL (No deductions and No gain) for both the houses. Should I disclose in this FY as self occupied
2. Whether assessee can self occupy 2 houses ?
3. What if I didn't disclose it as it is self occupied ?
9 Replies
ayusmita
(Tax consultant)
(5885 Points)
Replied 05 January 2021
Yes assessee can show 2 houses as self occupied and you can show this from this financial year
asheeq ua
(ca ipcc)
(313 Points)
Replied 05 January 2021
Okay sir... last year has not shown.. will it be a problem ?
Smit Shah
(524 Points)
Replied 05 January 2021
Yes there may be but if your total taxable income is below Rs.350000 for A.Y.2019-20 then not to worried much.
ayusmita
(Tax consultant)
(5885 Points)
Replied 05 January 2021
No problem if you disclosed it this year
Kapadia Pravin
(17259 Points)
Replied 07 January 2021
Rent is from Land and hence it's not IFHP. it will be IFOS. such tower rent income you must show it is mandatory. Take care of TDS if any.
asheeq ua
(ca ipcc)
(313 Points)
Replied 07 January 2021
Yes Sir that is already shown and tds is not deducted as below limit.. I am talking about his House property.. He is having 2 houses, 1 house is self occupied and other one is let out.. Can I show let out property as self occupied ?
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