Tax treatment on vacant commercial property

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umesh (Querist)
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25 July 2011 i have bought one commercial property in march 2010 and for the year 2010-2011 it was vacant.do i have to consider the notional rent on such commercial property

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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25 July 2011 Act requires to do so.

But assessee can take a plea here.

He may explain that he has used the property for his own business purpose.

If he is not doing business he can tell a lie that I have kept property ready for letting it out, but no tenants could be found. (Put a board of " TO LET" on this property.)

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