Vacant house property
This query is : Open
28 August 2016
if any indivisual have 4 house property , one he use as own residense and another three is vacant
is any taxability arise from those three vacant house property ?
is any taxability arise from those three vacant house property ?
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CA Shyam Agarwal
(Expert)
28 August 2016
Ofcourse, ramining three house will deemed to be let out at Fair Market. According you will have to pay tax
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28 August 2016
if one residence and one he have used for his business
so will two property taxable or three will taxable ?
in which head vacant house property income calculate ?
so will two property taxable or three will taxable ?
in which head vacant house property income calculate ?
28 August 2016
If so , other 2 properties are deemed to be let out and chargeable to tax under the head 'income from house property'.
Annual value of the property is not chargeable to tax if
the property is utilized for carrying on assesse's business and income of the business is chargeable to tax.
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