House property income in case taxpayer is half owner in two houses?



Person X is part (half)owner of 2 flats .In one flat other half is in name of his son and in the 2 nd flat other half Is in name of his wife. They stay in both houses depending on the situation. How should X minimise the tax on house Property.

House property income in case taxpayer is half owner in two houses?
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One Reply to “House property income in case taxpayer is half owner in two houses?”

  1. Mr X should declare one house as “Self occupied” the rent of this house must be higher than other. Further second house should be declare as “Let out” the rent of this house must be lower than other. This way income from self occupied house will be considered Nil and for other house fair rental value as income. A deduction of 30% from second house rent will also be deducted..





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