holiday home

Taxability of second House under the Income Tax Act,1961

People buy a second home for many reasons, which, inter-alia, include as an investment for capital appreciation; to use it as a holiday home; to get a regular stream of income by way of rentals; or to diversify their investment portfolio. Whatever be the reason, an important aspect to be considered at the planning stage is the tax implication of owning and maintaining the second home.
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