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Income from house property

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This query is : Resolved

murali (Querist)

13 July 2012 I have 3 properties A,B and C

Property A is let out for the PY 2011-12
Property B is self occupied.
Property C is let out for the PY 2010-12 but it was vacant for the full year for the PY 2011- 12.

My question is whether for the property C for the PY 2011-12, loss due to vacancy can be claimed for the 12 months?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

15 July 2012 Actually "Vacancy Loss" is not a kind of loss which can be claimed against the income of other HP. It gives only a kind of consolation to the assessee in respect of the income of the vacant property. In case the property has been kept ready for letting it out, and a suitable tenant could not reach to the owner, he is practically in loss. Income Tax Act has sympathy with such land lords and does not tax the income of the let out property during which it remains vacant. As such You can show " Zero" gross Annual Value of the property.
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