Deemed let out property
This query is : Resolved
14 September 2017
Assessee have 2 property one is SOP and other is vacant during the year. how to show 2nd property for computation of income whether to show LOP as vacant or to Show DLOP.
thank you in advance.
thank you in advance.
14 September 2017
You can choose either of the property as Self occupied and Deemed let out.
14 September 2017
In Deemed let out property, you need to pay tax on value arrived based on Fair rent or Municipal value subject to maximum of Standard Rent, as per rent Control Act.
It is wise to consider the Value arrived as above for both properties and choose the one with high value as Self Occupied property. You can save tax
It is wise to consider the Value arrived as above for both properties and choose the one with high value as Self Occupied property. You can save tax
14 September 2017
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