The section 23(2)(b) states that:
(2) Where the property consists of a house or part of a house which—
(a) is in the occupation of the owner for the purposes of his own residence; or
(b) cannot actually be occupied by the owner by reason of the fact that owing to his employment, business or profession carried on at any other place, he has to reside at that other place in a building not belonging to him,
the annual value of such house or part of the house shall be taken to be nil.
My question is that:
I don't stay at the house which i own and reside in a different city because of my job. Also the house has been vacant and not rented out. As per the section above, in my case, the annual value of my house is Nil. However, when i am trying to submit the ITR, m getting a message that "Gross rent received/receivable/let-able value should be more than zero". I have entered this value as 0.
Also m living in a rented house and receive hra of Rs 30000 annually.
Anyone can help out? Thanks.
CAclubindia
