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Tax on first house lying vacant

Tax queries 427 views 1 replies

Please help me with this.

I own a house in mumbai, and have not been residing in it as it is located far. Till last year ( 2011-12), I claimed a loss in house property ( interest- notional rent). Also I claimed HRA as per the IT rules. Last year I paid all the loans and now there is no interest to be paid.

This year, do i need to show the notional rent as income, claim HRA like last year or dont show the house income at all and clain HRA???

this is my first and only house.

Replies (1)
you can show such property as self occupied.. because i.tax allows you to claim one house property as self occupied... and since you are residing in a rented house you can claim hra also...


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