Second residential property
This query is : Resolved
24 July 2012
I am a salaried person. i have my owned house in my name. I have purchased a second residential property for investment purpose. The second property is lying vacant.
Please let me know is it compulsory to show income from my second property which is lying vacant and purely for the purpose of investment.
If i treat it Deemed let out property then pls let me know the valuation of rent. Purchase date 30.11.2011, city Delhi.
Please let me know is it compulsory to show income from my second property which is lying vacant and purely for the purpose of investment.
If i treat it Deemed let out property then pls let me know the valuation of rent. Purchase date 30.11.2011, city Delhi.
24 July 2012
Yes, as per the House property provisions..it will be ur DLOP.
24 July 2012
But i had bought the second property for investment purpose.
and if there is any tax liablity on it then how much??
and if there is any tax liablity on it then how much??
24 July 2012
It is considered as deemed let out & u need to pay the tax according to that income.
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