Income frm other persons included in assessee total i come

27. For the purposes of sections 22 to 26â?? (i) an individual who transfers otherwise than for adequate consideration any house property to his or her spouse, not being a transfer in connection with an agreement to live apart, or to a minor child not being a married daughter, shall be deemed to be the owner of the house property so transferred; This is covered specifically by above section. So the transferor will be deemed owner and the income will be taxed in hands of the deemed owner and hence no need to club again.

CA Suraj Lakhotia

Admin

11-Jan-21 09:12

But fr calculating income frm house property under deemed owner will take values such as municipal taxes paid, rent recieved of transferree 's itself right sir.

Thread Starter

Shru Kanda

CA Inter

★ 610

11-Jan-21 09:42

1.And now fr example the transferror has 2 self occupied house and this transferee property is also self occupied then will the provisiom apply i.e oly 2 is self occupied and other is deemed let out... 2.and in case of interest of loan aggregate of 2lakhs inclusive of the transfered property. Or the limit will b separate fr it sir

Thread Starter

Shru Kanda

CA Inter

★ 610

11-Jan-21 09:45

2 self occupied and one deemed let out. The aggregate limit is 2 lakhs.

CA Suraj Lakhotia

Admin

11-Jan-21 10:46

Ok sir

Thread Starter

Shru Kanda

CA Inter

★ 610

11-Jan-21 10:55