‘income from house property under the tax law of 1961

How to calculate tax liability for vacant house property?

A property that’s neither self-occupied nor let-out would be considered deemed to be let-out since the asset has the potential to generate a notional income. This perceived income is taxed under ‘income from house property under the tax law of 1961 Under Indian laws, property ownership has tax implications, since every immovable asset has the potential to generate a certain annual income for the...

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