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Self-occupied property in DTC

CA Vinay Gandhi (CA) (858 Points)

27 September 2010

Is self-occupied House property considered while computing Income from house property in DTC,2010?

Can anyone please explain the provisons?

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2 Replies

shashi (service) (28 Points)
Replied 27 September 2010

pl note the following:

U/s 23(2)(a) where the property consist of one house in the occupation of the owner for his own residence, the annual value of such house shall be taken to be nil, if following conditions are satisfied:

- the property (or part thereof) is not actually let during whole (or any part) of the previous year ; and

- no other benefit is derived therefrom

* Where the person has occupied more than one house for his own residential purposes, only one house(according to his own choice) is treated as self occupied and all other houses will be deemed to be let out and taxable income will be calculated in the manner explained.