If a person purchases of ready to move in house property during July 2013 and left it vacant till Nov 2013, but puts it for rent for 3months by the end of financial year 2013-14 and gets rent of Rs. 36,000 (i.e 12K*3). Then what will be the rental income should be taken for calculation of tax as income from house property. Imagine there is no municipal tax or loan exist.
Is it; Rs. 36k, 96k (since the property purchased) or R. 144k (for 12 months)?
CAclubindia
