Annual value of stock-in-trade property treated as nil for up to one year after completion certificate is obtained. Where a building or land appurtenant held as stock-in-trade is not let during the whole or any part of the previous year, the annual value of that ... Summary
Annual value of stock-in-trade property treated as nil for up to one year after completion certificate is obtained.
Where a building or land appurtenant held as stock-in-trade is not let during the whole or any part of the previous year, the annual value of that property or part shall be taken as nil for the period up to one year from the end of the financial year in which the competent authority issues the certificate of completion of construction; the amendment to section 23 takes effect from 1 April 2018 and applies to the relevant assessment year and subsequent years.
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