24 July 2010
are there any special provisons for letting out a vacant land. ??? i mean can we claim standard deduction u/s24. because standard deduction is for repairs and maintenance and the same will not be there for vacant land.? please advise???
24 July 2010
IF VACANT LAND IS LET OUT, THE INCOME, IN MY OPINION, SHOULD BE SHOWN UNDER INCOME FROM OTHER SOURCES ON WHICH NO DEDUCTION U/S 24 WILL BE ALLOWABLE.
03 August 2010
Mr.Mohinder is right , the vacant land is not in the defintion of house proerty income, so you cannot claim u/s.24 interest. the income is chargable under other sources
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