Income from house property
This query is : Resolved
Pranav Dileep Potekar
(Querist)
30 January 2013
what is treatment of loss due to vacancy if the house property is vacant for the whole year?
31 January 2013
it shall be set off with current year income or if there's not any income , it shall be carry forward
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CA SAYANTAN BASU
(Expert)
01 February 2013
1. The loss from the house property will be adjusted as per section 71B of the Income tax Act 1961 .... for 8 years against any income except salary income ....
2. If it is due to vacany then the income from house property will be nil ....and no loss will come ... but if you are deducting interest on bank loan , then the loss will come ... that loss will be adjusted against any income except income from salary ....
HOPE THIS WILL SOLVE YOUR QUERY ....
2. If it is due to vacany then the income from house property will be nil ....and no loss will come ... but if you are deducting interest on bank loan , then the loss will come ... that loss will be adjusted against any income except income from salary ....
HOPE THIS WILL SOLVE YOUR QUERY ....
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