taxability under income from house property
This query is : Open
19 May 2016
hi experts,
I have given a house property on lease for a period of 3 years in return for a lease deposit of say 10laks. I would not be receiving any monthly rental. I would like to know how this income would be charged in income tax. should I consider notional rent and offer it to tax? let's say this is my second house property apart from the self occupied one.
pls guide
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20 May 2016
the fair market value of rent in the area where your rented house is situated should be taken for the calculation purpose.
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