Hp income

Yes you can deduct loss on vacancy,

for example please refer sum no. 90.1-3P6 from direct tax law book of CA final by V.K.singhania

agree with chandra 

i m ipcc student ..

& i read in ipcc (icai) tax module ..

if any one has it plz refer to page no. 4.61

here they hav not done so ??

the deduction of rent is allowed only if the actual amount (RENT) recd. is less than expected rent because of vacancy

otherwise it is not deductible, and the whole amount should be taxable

loss due to vacancy cannot be deducted from fair rent...

say where a house was constructed on august then,then fair rent calculation would be from august to march and not for full yar as before the proerty itself was not there hence out of d purview of taxability