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Income from house property

This query is : Resolved 
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(Querist)
25 January 2013 Sir, i would like to know the tax implications if the property remained vacant in the previous year that is for 12 months,,,before it was given on rent,,,???

please reply asap
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
25 January 2013 The property has remained vacant due to non-availability of a tenant.
.
The owner was interested to let it out.
.
Then the owner can claim vacancy allowance against the Expected Rent and the Annual Value of the property can be shown as Zero.
.
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