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Deemed let out property

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(Querist)
27 November 2015 Dear all, can anyone explain me as to why deemed let out property concept was introduced??Why i dont have any actual income, why i should pay tax??
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
27 November 2015 Because one house , perhaps as per legislature's view , is enough to live in.
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CA Ankith Jain

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CA Ankith Jain (Querist)
30 November 2015 Then i was paying wealth tax, why again deemed letout income?



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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
30 November 2015 Wealth tax is paid to hold the property whereas income tax is paid out of the income (real or deemed) of the property.

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