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House property query

4 houses in one building is considered as one house property or 4 house property ??


CA Lakshmikiran

CA Lakshmikiran

CA Inter

0

07-May-20 18:58

36

Answers (10)

4 units in one house property


M Narendra

M Narendra

CA Inter

4K+

07-May-20 19:24

Considered as 1 house property having 4 units or portions


M Narendra

M Narendra

CA Inter

4K+

07-May-20 19:28

Considered as 1 house property having 4 units or portions

What about independent flats or apartment in one building ??


CA Lakshmikiran

CA Lakshmikiran

CA Inter

0

07-May-20 19:59

House property include apartments


M Narendra

M Narendra

CA Inter

4K+

08-May-20 10:08

I think it has to be understood with ownership of the property. I.e,four storey building is owned by single person then it should be one house property,if it is owned by more than one then it will be different house property. In a building of Flat or apartment,there is divided into various sizes of house property as we say [2 BHK,3 BHK]so if owning more than one apartment or house property is treated as one house property or not is matter to get answer to me also.


Pranav Connecting...

Pranav Connecting...

CA Inter

4K+

09-May-20 00:45

In the case of CIT vs. Raman Kumar Suri (2013) 212 Taxman 411 (Bom), wherein the Honâ??ble High Court upholding the order of the Tribunal had concluded that where the assessee had acquired one residential house consisting of two flats, it cannot be said that the assessee had purchased two residential houses.


Suraj Lakhotia

Suraj Lakhotia

Admin

09-May-20 07:22

If two flats purchased are adjacent and are used for residential purpose, it could be construed as 1 house property.

Ok sir..Thank you very much.


Pranav Connecting...

Pranav Connecting...

CA Inter

4K+

09-May-20 09:51

Considered as one house property


nive krish

nive krish

CA Inter

255

10-May-20 09:51