Do you've to pay tax on a home that you didn't rent?
Where the assessee owns more than two properties for self-occupation, then the income from any two properties, at the option of the assessee, shall be computed under the self-occupied property category and their annual value will be nil.
The other (third house property) self-occupied unoccupied properties shall be treated as "deemed let out properties"
This option can be changed year after year in a manner beneficial to the assessee for tax purposes. Meaning, where the GAV is the least the rent would be the less which can be shown as deemed let out property.
In case of deemed let-out property, the Expected Rent shall be taken as the Gross Annual Value
For the purposes of this section - House property as per the Income-tax Act, 1961 means any building (or land adjacent to such building) owned by the assessee himself. House property includes flats, shops, office space, factory sheds, commercial buildings, agricultural land and farmhouses etc.
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