If a house property is let out for a certain period of the year.. say from 1.4.09 to 31.8.09 and it was self occupied from 1.9.09 to 31.3.2010,....How will the Incoem from House property br calculated..!? Will it the Fair rent(say 27000 rs.p.a), Municipal valuation(say 25000Rs p.a),etc for the Let out period be calcuated oly for 5 months...?! And for remaining part of yr, i.e. from 1 Sep, will Annual value considered as nil..!?
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House Property Partly SO/Partly LO..!?
Replies (1)
Dear Divya
If a house property is let out partly and self occupied partly, then it is considered to be let out for the whole year. Hope this single line of mine clears all of ur doubts..
Warm regards
R. Saranraj B.com, IDA, CA FINAL
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