3 ms·
India has a "deemed rent" model where an empty house is assumed to be rented out at an average for the area. This deemed income is then included in calculating
by astatine 6y ago
India has a "deemed rent" model where an empty house is assumed to be rented out at an average for the area. This deemed income is then included in calculating income tax (rather than property tax). Compliance is poor but the model can potentially be made to work.
Some cities also have a penalty on unmaintained properties but compliance is even poorer!
- wolfretcrap 6y agoIs it all over India?
- jagannathtech 6y agoNo.
- astatine 6y agoIf someone has two (or more) houses that are declared as self-occupied (maybe empty or in use, but not let out) then that person can treat one as where the person stays and the other(s) is treated as rented. This applies across India as this is part of the income tax rules.
- deleted 6y ago[deleted]