Hi Experts ,
I own 2 properties , one in my home town ( A ) , and other in City i work ( B ) . For income tax purpose , Till FY 17-18 , I was showing A as owned and B as Let out ( deemed let out ) which was as per IT rules . For FY 18-19 , I was staying at B ( shown as deemed let out ) till Dec 18 but moved out of this flat due to space constraints and took other flat in same apartment complex on rent ( C ) and gave B on rent starting Jan 19 . Same time , My other property A ( flat in Home TOWN ) will be taken up for nominal rent from Feb 19 . I wanted to know -
1) As C ( flat on rent ) and A ( my owned flat ) is in same complex , I understand i can not claim HRA as well as book loss with home loan interest so I will not claim HRA instead continue to claim loss of income with home loan interest . Rental income i receive from A and rent i am paying for C is same so there is no total additional income impacting loss/ gain
2) As B ( Flat in home town ) will be also going on rent , i wanted to check if i can show that also as let out with which i will have 2 let out properties and no HRA claim . I wanted to understand if its allowed to show both properties as let out for fair tax calculation while not showing HRA to abide by taxation rules . If this is bit complex , I may not give this flat on rent for next couple of months so i can still show this as owned flat for taxation ( currently unoccupied property )
thanks
