I own two houses. One is a farmhouse that I visit on weekends and the other is in the city that I use on weekdays. Is it correct to treat both these residences as self occupied?
FAQs on Income from house property
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Self-occupied house property: two residences may be treated as self-occupied from assessment year 2020-21 subject to conditions. Tax law historically permits only one property to be treated as self-occupied, with additional houses treated as deemed to be let-out. From Assessment Year 2020-21, a person may classify two properties as self-occupied, provided specified eligibility conditions and compliance requirements are satisfied for both properties.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Self-occupied house property: two residences may be treated as self-occupied from assessment year 2020-21 subject to conditions.
Tax law historically permits only one property to be treated as self-occupied, with additional houses treated as deemed to be let-out. From Assessment Year 2020-21, a person may classify two properties as self-occupied, provided specified eligibility conditions and compliance requirements are satisfied for both properties.
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