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if HP is vacant for 1-11 months then loss due to vacancy will be given to the assessee but if it is vacant for 12 months of P.Y then no loss will be given. Is this true? pls explain
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if the property is let out for at least one day then it shall be deemed as property is letout property. But incase such property is not let out then no concept of vacancy arises. Hence no loss given.
See If the Let out property not occupied during the previous year eventhough need to offer it as Deemed let out propery as per 23(4)( Notional rent basis )
If the Let out property is vacant for part of the year then you can consider lower of actual rent or expected rent as Gross Annual Value.
If the Let out property is vacant for part of the year then you can consider lower of actual rent or expected rent as Gross Annual Value.
thanks for information
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