Deemed let out property
This query is : Resolved
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??
27 November 2015
Because one house , perhaps as per legislature's view , is enough to live in.
30 November 2015
Then i was paying wealth tax, why again deemed letout income?
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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