Notional rent under income from house property

This query is : Resolved

M.M.SURANA

M.M.SURANA (Querist)
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04 January 2016 Dear Expert

Assessing officer want to add notional rental income from the II house which is vacant from year to year. Pl let me know what is deduction can be claimed and what is remedy . It is very urgent

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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04 January 2016 1. Standard Deduction 30% of the Notional rental Income
2. Interest -if any loan has been taken for acquiring the property.

M.M.SURANA

M.M.SURANA (Querist)
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04 January 2016 Sir, If he claim it is for rent or for let out and no tenant has coming since it is out of town , can we claim again vacancy Allowance ?

M.M.SURANA

M.M.SURANA (Querist)
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04 January 2016 Sir, If he claim it is for rent or for let out and no tenant has coming since it is out of town , can we claim again vacancy Allowance ?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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04 January 2016 Yes, in that situation vacancy allowance can be claimed in the ITR. In the present case you have to deal with the ITO. Try to satisfy him with your explanation.

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