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House property

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(Querist)
15 March 2013 I have 2 properties. Both are not let out. One property is treated as Self Ocupied & another as Deemed Let Out. NAV of Self ocupied is zero. But can NAV of Deemed let out property be taken as ZERO???
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Santosh Mishra

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Santosh Mishra (Expert)
15 March 2013 No, NAV of deemed let out property would be fair rent or notional rent.
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Prashant Nayak

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Prashant Nayak (Querist)
16 March 2013 Sir can I take NAV of a let out property as ZERO for reason of VACANCY for whole year?
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Santosh Mishra

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Santosh Mishra (Expert)
16 March 2013 No, you need to treat it as deemed let out property and ALV ( higher of Fair rent, municipal value ) is taken as Gross Annual Value.
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Prashant Nayak

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Prashant Nayak (Querist)
16 March 2013 Thank U Sir

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