i want to know that if house property is vacant for whole year. then how to calculate the Income from house property ? if there is interest on housing loan.
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Housing loan interest on vacant property
Replies (3)
Assessee is allowed to choose 1 property as self occupied and other properties whether self occupied or vacant will be treated as Deemed let out and will be taxable and you will be eligible for deduction of Interest on housing loan. And let out propery will be taxable as let out property.
then how to calculate notional rent?
IN THE SAME MANNER AS WE CALCULATE IN LET OUT PROPERTY
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