Until Assessment Year (AY) 2019-20, only one property could be claimed as self-occupied for tax purposes.
🏠 From AY 2020-21 onwards, both houses can be treated as self-occupied, provided certain conditions are met.
💼 This change offers flexibility for homeowners with multiple properties, eliminating the need to designate one as “deemed to be let-out.”
🛠 Take advantage of this opportunity to optimize your tax planning strategy with multiple properties.
💰 Understand the potential savings and implications of treating both properties as self-occupied for tax purposes.
📝 Consult with a tax advisor to ensure you meet all the necessary criteria and maximize your benefits.
🏡 Enjoy the freedom of utilizing both of your properties for personal use without payment of tax