Mr s.s walia owns 3 house properties at chandigarh property 1 is self ...
Property Details of Mr. S.S. Walia in Chandigarh:
Property 1: Self-occupied Property
- Mr. S.S. Walia personally occupies this property
- This property is not let out for any purpose
Property 2: Let-out for Residential Purposes
- Mr. S.S. Walia has given this property on rent for residential purposes
- The tenants occupy this property and pay rent to Mr. S.S. Walia
Property 3: 3 Identical Units
- This property has 3 identical units - X, Y, and Z
- Unit X is let out for the full year to a tenant who pays rent to Mr. S.S. Walia
- Unit Y is used for business purposes by Mr. S.S. Walia
- Unit Z is let out for 5 months and self-occupied for 7 months by Mr. S.S. Walia
Explanation:
- Mr. S.S. Walia owns 3 properties in Chandigarh, out of which one is self-occupied, one is let-out for residential purposes, and the third one has 3 identical units.
- The property that is self-occupied is not used for any commercial purposes and is solely used by Mr. S.S. Walia for personal use.
- The property that is let-out for residential purposes generates rental income for Mr. S.S. Walia.
- The third property has 3 identical units, out of which one is let-out for the full year, one is used for business purposes by Mr. S.S. Walia, and the third one is let-out for 5 months and self-occupied for 7 months. This property generates both rental income and is also used for personal and business purposes by Mr. S.S. Walia.
Mr s.s walia owns 3 house properties at chandigarh property 1 is self ...
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