Income from house property

As per Section 27(i) only in case of transfer of house property by an individual to his spouse otherwise than for an adequate consideration, the transferor is deemed to be the owner of the transfered property.

In this case the women is the owner of the property she owns it in his own name i.e.,  from his own income hence, it would be taxable in her hands only.

Deduction form Annual Value as per Section 24 i.e., Section 24(a) - 30% of Net Annual Value and Section 24(b) - Interest on Borrowed Capital.

The property is NOT TRANSFERRED to the woman. She has puchased it herself - by obtaining a loan on her own. The husband is just a co-owner.

And she is not residing in this flat - nor has she given it on rent to anyone. Its lying vacant for over 18 months since obtaining possession. And the woman resides with her husband and her in-laws.

Question is: Given situation, since this is the only property on her own name, will the NAV be considered nil?

Regards.