For how many eligible self-occupied houses can an individual elect nil annual value under sections 21(6) and 21(7) of the Income-tax Act, 2025?
Question and options
For how many eligible self-occupied houses can an individual elect nil annual value under sections 21(6) and 21(7) of the Income-tax Act, 2025?
One at most
All houses owned by the individual
Up to two
Three at most
Answer and explanation
Correct answer: C - Up to two
Section 21(7)(a) of the Income-tax Act, 2025 limits the nil annual value under section 21(6) to two houses specified by the assessee. Any other house is valued under the ordinary rules.
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