i had 2 residential property one inwhich i am staying and the other is lying vacant, whether the residential property lying vacant will be cheargable to wealth tax or not, if possoble provide any case law.
4 Replies
manjula
(Articles Asst)
(641 Points)
Replied 23 September 2011
Dfear Sachin,
As per my knwledge, if any HP let out for less then 300 day, it is not considered as asset for WT and hece not WT.
any residential property that has been let out for a minimum period of 300 days in the previous year
Thansk
Harish.
(Guest)
you can exemption of any one RHP as per your choice u/s 5(vi).
Suppose you claim exemption of SOP-R then property which is lying vacant shall be taxable.
ravindra
(ARTICLE)
(25 Points)
Replied 30 November 2011
Sir I want to know that whether for husband and wife can we treat different house property for the purpose of taking benefit of Self Occupied Property
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