House Property

I will advice not to show it in Wealth tax.

and if you want to disclose it than:

1.Yes it will  be deemed to be let out.

2. NAV will be the depending upon the market rent rate in the city multiplied by the exhange rate..

3. to be included in the welath tax.

I agree

Under wealth tax: A Bulding is considered as asset only if it is let out for less than 300 days during the previous year. So the Vacant house ur asking will be chargable to wealth tax.

Under the head income from house property :-

1. For a resident his global income is chargable to tax in india.

2. For a resident but not ordinarily resident and a non resident, a person has to receive rental income in india from the property located outside india for it to be chargable to tax in india.

3. If the 2 st condition is satisfied then the NAV would be computed as if the property is located in india.