if assessee receiving rent from rental property every year. due to covid he didn't received rent during the FY 20-21 but paid property tax, can we consider only property tax paid expenses to calculate income from house property.
i thinking without rental income we can't show expenses, is it right.?
if we considered property tax then loss will come under income from house property and need to set off that against income from other head right?
please suggest can we consider property tax to calculate income from house property.
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Property tax in calculating income from house property
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Quick Summary
Yes, you can consider property tax paid when the house it actually rented or deemed rented.
Due to Covid-19, there can be loss of rent due to un-ralization, but that cannot be more than 2/3 months.
Then can we take property tax if assessee has not received any rental income complete whole year, if yes. act says if any property let out for whole year then it'll consider as self occupied property but in this case property is not a residential. it's a commercial hotel building and assessee had not received any rental income from that,
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