How many Properties Can a Person Buy in India?

How Many Houses Can a Person Buy in India?

What are the Reasons for Buying Multiple Houses?

What are the Legal Rules for Having Multiple Homes in India?

What are the Tax Benefits of Owning Multiple Houses?

FAQs About How Many Houses a Person Can Buy in India

Which ITR form is required for more than one house?

Individuals who own more than one house should file their income tax return in ITR-2.

Is the income from the second house taxable?

The other house is, however, considered to be "deemed to be let out". Therefore, it is taxed if you do not rent it out. The annual worth of a home that you consider to be self-occupied is zero. As a result, your self-occupied property is not subject to tax. However, you must pay taxes on your rental revenue.

Is paying rent in cash legal in India?

If paying rent in cash for more than ₹5000, ensure the revenue receipt has the revenue stamp on it. If your annual rent payment exceeds ₹100,000, you must provide your landlord's PAN number.