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Income from house property
when the house property was not vacated for the full year and was not self occupied by assesse? what is tax treatment as per income tax act 1961
Replies (4)
let out property
calculate gross Assable value - unrealized rent = net assable value - 30% standard Deduction u/s 24(a) - interest on loan for house property u/s 24(b) = income from house property
calculate gross Assable value - unrealized rent = net assable value - 30% standard Deduction u/s 24(a) - interest on loan for house property u/s 24(b) = income from house property
How to calculate gross annual value in such case?whether logically or by using straight formulae
using straight formula but after calculating notional gross annual value( if property was let whole of the year) we can less the amount of that month in which the property was vacant...
and that amount will be the gross annual value...
and that amount will be the gross annual value...
Proceed with the problem as if the problem is of partly let out and partly vacant.
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