House property
This query is : Resolved
Prashant Nayak
(Querist)
15 March 2013
I have 2 properties. Both are not let out. One property is treated as Self Ocupied & another as Deemed Let Out. NAV of Self ocupied is zero. But can NAV of Deemed let out property be taken as ZERO???
Santosh Mishra
(Expert)
15 March 2013
No, NAV of deemed let out property would be fair rent or notional rent.
Prashant Nayak
(Querist)
16 March 2013
Sir can I take NAV of a let out property as ZERO for reason of VACANCY for whole year?
Santosh Mishra
(Expert)
16 March 2013
No, you need to treat it as deemed let out property and ALV ( higher of Fair rent, municipal value ) is taken as Gross Annual Value.
Prashant Nayak
(Querist)
16 March 2013
Thank U Sir
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