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Income from house property and wealth tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 July 2012 I have commercial house property which is lying vacant form last 6 months. will it be treated as deemed to be let out as per income tax act? and will wealth tax be attracted if value exceeds 30 lakhs?
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Amol S Joglekar

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Amol S Joglekar (Expert)
24 July 2012 Wealth is attracted. If it is vacant for 6 months, suggests that it was klet out for remaining 6 months. The rent received / receivable will be treated as income subject to deductions. No question of deemed let out.
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