Dear Friends
The New Direct Taxes Code is not explicity about Self Occupied Property
Under New Direct Taxes Code, House property is taxable on "Gross Rent" = Rent received or Receivable for the year. As implied from the definition Self Occupied Property is not taxable. This can be extended to any number of Self Occupied property?
and Further what is taxable is "Rent from house property which is "let out" - Can it be implied that HP which are not let out will not be covered under this head consequently the current eligible deduction "Interest" will not qualify for deduction??
CAclubindia
