Sir,
Need full meaning and details with exmaple on Sec 23(2)(a) and Sec (23(2)(b)
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U/s 23 (2)(a) and 23 (2)(b)
Replies (1)
Section 23(2)(a) applies to the house you live in, while Section 23(2)(b) applies to a house you leave vacant because your job requires you to live in a different city. In both cases, the Net Annual Value is Nil, allowing you to avoid tax on notional rent and potentially claim a deduction for home loan interest up to ₹2 lakh.
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