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Two House Owners: Key Tax Rules to Know Before Filing ITR

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Taxpayers who own more than one residential property must follow specific rules when filing their income tax returns. The tax treatment of a property depends on whether it is self-occupied or rented out, which affects how income from it is calculated. Under Indian tax law, only one property can be declared as self-occupied, while the other is deemed to be let out, even if it is vacant. This distinction directly determines the deductions a taxpayer can claim on home loan interest and other related expenses.

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