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I got 3 houses in Hyderabd from which i am not getting any
rent because In A house i occupied for my family, No.B was
occupied by My father and C was occupied by my sister.I am
putting Nil in the column mentioned for income from house
property. Is it right or wrong pl let me know
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Answer / sam
It is wrong.
As per Income Tax if you are having more than 1 house, then
only 1 house will be treated as Self Ocupied Property (SOP)
& other will be treated as Deemed to be let out Property
(DLOP). So the rent (as per municipal valuation) of DLOP
will be treated as income & included in Income from HP.
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / mbsaggarwal
IT IS WRONG AS THE ASSESSEE WILLHAVE TO PAY TAXES UNDER THE
HEAD INCOMEFROM HOUSE PROPERTY TREATING ANY ONE HOUSE
PROPERTY AS SELF OCCUPIED AND REST OF DEEMED TOBE LET
OUT.ASSESEEE MAY CHOOSE ANY HOUSE PROPERTY AS SELF OCCUPIED
PROPERTY.
| Is This Answer Correct ? | 1 Yes | 1 No |
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