House self occupied
Amit Tikaria
(Querist) 13 August 2015
This query is : Resolved
Dear Sir,
I and my wife are both working in Mumbai. We owned two flats in joint name and are unoccupied. One in Mumbai and in Pune.
For Mumbai flat I had paid full amount by personal saving and loan.
For Pune flat my wife paid full amount be personal saving and loan.
I have question can both of us can declare respective flats as self occupied flat.
Amit
Anirudh
(Expert) 13 August 2015
Since the property is in joint name, you cannot do so.
In case the property had been individually owned by each of you, then each of you could have claimed it as self-occupied.
Amit Tikaria
(Querist) 13 August 2015
Thanks Anirudh,
as per section 27(i) of income tax act.
Which says that if wife has not contributed in purchase of husbands flat then ownership is deemed to be husband for taxing purpose.
Similarly for reverse case.
then can each individual can own their flat for income tax purpose. Hence can be each individual can have own self occupied flat.
Please give your valuable opinion.
Regards
Amit
Anirudh
(Expert) 13 August 2015
The provision in the Income Tax Act quoted by you is totally inapplicable to your fact situation.
The said provision is meant for clubbing of the income from the house property in the hands of the person who transfers. In your case, where is such a transfer? Though one person might have paid the entire consideration for the house, mere registration in joint name of the spouses would not mean there was any "transfer". It is simply purchase in the joint name. Therefore this provision is not applicable to your case.
Rajendra K Goyal
(Expert) 13 August 2015
Well advised, agree with the expert Anirudh.
Guest
(Expert) 13 August 2015
Better Discuss With the CA Club of this same Forum For A Practical Solution From Practising Professionals.
Anirudh
(Expert) 13 August 2015
This because the person who directs you to the CA Club is neither capable of offering any practical solution nor appears to be a practising professional!
Guest
(Expert) 13 August 2015
First Ensure Your Appearance What is Your address.From Where you are what is your contact Address.Nothing is there in Your Profile
Anirudh
(Expert) 13 August 2015
IF that was so, why did you so far reply to my posts? After thought?
Guest
(Expert) 13 August 2015
The CA Club of the LCI Excellently Operates Only to Guide People in The Income Tax Matters Which has Very Highly Professional Chartered Accountants as Members.
Anirudh
(Expert) 13 August 2015
That does not mean others who know the subject/answer should not provide answer here. If you think that income-tax or for that matter any tax matter is the exclusive domain of the CAs you are miserably wrong!
Guest
(Expert) 13 August 2015
Dear Author,CAs Of Our CA Club would Provide you the Best Solution Than Here.They would Provide you a Professional Advise With Out Assumptions and Predictions.
Anirudh
(Expert) 13 August 2015
It is this bugger's thinking!
This bugger does not even notice that there has not been any assumption and predictions in the reply provided by me.
Let him point out where I have made any assumption?
Amit Tikaria
(Querist) 13 August 2015
Anirudh, Thanks for your opinion
Guest
(Expert) 13 August 2015
The Comments of Anirudh Madam. These are Quite Not Un Usual From an Anonymous.
Anirudh
(Expert) 13 August 2015
The thanks from the Querist should serve as a big slap on your face!
Guest
(Expert) 13 August 2015
It is A Decency from the Author and Nothing Connected to My Suggestion Of Consult The CA Club,Where he would get a Better Positive Replies.I Pity your Situation of Seeking Some One desperately For Your Help.Any How My Time Is Up and Positively would Attend you Tomorrow.
Anirudh
(Expert) 13 August 2015
I never sought any thing from anybody. It was the querist who, probably after watching your uncharitable comments, thought to express a thanks. Never I ever feel desparate therefore the question of seeking any help hardly arises. It is all in your low grade thinking!!
I believe that surely should serve as a well deserved slap on your face!
Guest
(Expert) 14 August 2015
It is A Courtesy and Decency of The Good Querist to Thank and It Can Not Be Mis Lead As An Insult To Some One.It is Just Very Awkward and Very Mean.
Anirudh
(Expert) 14 August 2015
Let it be. It is nothing but a big slap on your face, especially when you were harping that he should consult CA Club.
Guest
(Expert) 14 August 2015
If Some One is Hurt they would only Feel Obvioualy Now You Are Feeling the Hurt.
