income from house property

[RAM AVTAR]

Regd : Notional rent for commercial property not let out during the year

Whether notional rent for the purpose of ALV can be apply In case If any individual who is owning commercial property could not let out during the year .

In my understanding section 23(4) apply only to residential property ( ses section 23(2) )

 

AI Summary

Debate on Applicability of Section 23(4) of Income Tax Act for Notional Rent on Vacant Commercial Properties A user inquired about the applicability of notional rent for commercial properties that were not let out during the year, specifically questioning if section 23(4) of the Income Tax Act, which they believe applies only to residential properties as per section 23(2), could be applied. The discussion revolves around whether the concept of Annual Letting Value (ALV) and notional rent is relevant for commercial properties under these circumstances.