Income from house property
This query is : Resolved
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?
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?
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.
.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
