Dear friends,
how does one decide is the house left vacant for the whole year or is it self occupied property and is to be treated as deemed to be let out??
Example: Mr.X owns to two houses A and B
House A has been self occupied by Mr.X during the previous year 2012-13
House B has been not used throughout the year.
Mr.X contends that the house B is to be treated as "Let out propert vacant through out the year" and Not as deemed let out property!!
So my question is whether the House B is to be treated as "Let out property Vacant through out the year" or "Deemed let out property" for the purpose of Computation of income from hosue property??
The tax implication will be different under both the alternatives as Annual vAlue will be nil if it is considered as let out property Vacant throuhout the year.
Thanks in advance
CAclubindia
