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Tax on Vacant Property
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?
Replies (7)
It should be shown as DLOP but its fine if you dont show since there was no actual income via rent
you are supposed to show deemed let out
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?
because that's the provision of the act
Its not a strict provision of law so you can avoid it until you dont get real rent income for the same.
it's strict law and it should be adhered to
Okay Thank you!
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