14 July 2019
I purchased an under - construction flat with bank loan last year July 2018. The flat is just complete by May 2019, still vacant and not yet rented till now. In the income tax return for FY 2018-19 (AY 2019-20), I have indicated the flat as "Deemed let-out" property and specified the interest amount paid for the loan during the FY also. In this case, if I specify gross rent letable, it affecting the "Income chargeable under the head House Property". In fact, the flat has not at all been rented till now and is vacant as mentioned earlier. Please suggest what do I do?
CAclubindia
