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INTERVIEW QUESTIONS
INCOME TAX
INCOME TAX FOR HOUSE PROPERTY / RENTAL INCOME
DETAILS
Question: How to compute income from a property which is self-occupied for part of the year and let out for part of the year?
Answer: At times a property may be let-out for some time during the year and is self-occupied for the remaining period (i.e., let-out as well as self occupied during the year). For the purpose of computation of income chargeable to tax under the head "Income from house property", such a property will be treated as let-out throughout the year and income will be computed accordingly.
However, while computing the taxable income in case of such a property, actual rent will be considered only for the let-out period.
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Income Tax for House Property / Rental Income Interview Questions & Answers -
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Question:
How to compute income from a property which is self-occupied for part of the year and let out for part of the year?
Answer:
At times a property may be let-out for some time during the year and is self-occupied for the remaining period (i.e., let-out as well as self occupied during the year). For the purpose of computation of income chargeable to tax under the head "Income from house property", such a property will be treated as let-out throughout the year and income will be computed accordingly.
However, while computing the taxable income in case of such a property, actual rent will be considered only for the let-out period. Source: CoolInterview.com
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