Hello... If I have no income from any source, I have two houses in my name, in one Im living and other is vacant, do i still have to file return ? I know some notional rent has to be shown for 2nd house and if the notional rent is below my taxable limit, no tax pending on it so still I have to file returns?
Menu
House income query
Replies (1)
As ur income even after including such notional rent does not exceed maximum amount not chargeable to tax u r not liable to file IT returns!but if u file IT return and if interest paid on loan taken for purpose of construction of such deemed let out property is more than "NET ANNUAL VALUE" u can carryforward such loss from house property and set off against income from house property in next 8 years.if u does not file such IT return, u can not carry forward such loss from house property ,this may lead to tax liability to the extent not carry forward
Recent Topics :
- FAST DS 2026 MAIL QUERY
- Does Anyone need CA Foundation books of May2026 at
- Last day for ITR-U for AY 2023-2024 (FY 2022-2023)
- Sale of shares in indian company by a non resident
- Difference in TIS
- GSTR-9C Upload Status Error Occured
- “Income Tax Implications of Company-Related
- Advice needed: Hypothetical case of non-filing of
- Demand Raised for Cess Amount Despite Section 89 R
- WRONG BILL NO FILED IN GST R1
Related Topics :
CAclubindia
