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Tax on Vacant Property

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10 Points Posted on 03 January 2019
A multi with 4 floor is there in which 2 floors are left vacant for 2 years is there was any tax liability or any deemed income to be shown on the same?
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On 03 January 2019 at 13:54 Report
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Coaching and Practice in Tax Audit Law
4429 Points Posted on 03 January 2019

It should be shown as DLOP but its fine if you dont show since there was no actual income via rent

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On 03 January 2019 at 14:48
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12244 Points Posted on 03 January 2019
you are supposed to show deemed let out
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On 03 January 2019 at 21:03
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10 Points Posted on 04 January 2019
That multi is for commercial use and other two floors are being used for commercial purpose and the question is why such property with no tenant to be shown as deemed let out?
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On 04 January 2019 at 01:01
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12244 Points Posted on 04 January 2019
because that's the provision of the act
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On 04 January 2019 at 08:54
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Coaching and Practice in Tax Audit Law
4429 Points Posted on 04 January 2019

Its not a strict provision of law so you can avoid it until you dont get real rent income for the same. 

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On 04 January 2019 at 16:06
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12244 Points Posted on 04 January 2019
it's strict law and it should be adhered to
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On 04 January 2019 at 17:33
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10 Points Posted on 04 January 2019
Okay Thank you!
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On 04 January 2019 at 19:27


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