A housing loan is availed jointly by husband and wife to acquire a flat and they are staying in the same flat and availing exemption and deduction from income tax for their respective portion of repayment. Then the loan portion of husband has been converted to wife's name. Now the husband is acquiring another ready built flat in his name by availing a new housing loan which is yet to be let out.
I wish to get a clarification how to declare the flat in his name as self-occupied or let out property in income tax return.
