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POSTED BY ON March 8, 2015 9:22 am ONE COMMENT
Currently I have live in my own house with father as co-applicant for home loan. I want to buy and shift to another house on loan with my wife as co-applicant for second home. Which house can be treated as self-occupied and let out for me, my father and my wife. and under which category can I claim tax?
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In case of two houses, one is deemed to be self occupied and second one is deemed to be let out. It can be possible that both the houses are let out.
Which house to stay and which one is deemed to be let out is at the discretion of the tax payer. The income from the house that deemed to be let out needs to shown under income from house property.