Unsold flats to be considered for deemed rent under Income from House Property from date of CC… but Municipal Value to be considered as Annual Letting Value

Unsold flats to be considered for deemed rent under Income from House Property from date of CC… but Municipal Value to be considered as Annual Letting Value https://www.taxtmi.com/article/detailed?id=15866 Unsold flats held as stock in trade are assessable as deemed rent under Income from House Property; an amendment provides that annual value of such unsold flats shall be nil for up to two years from the end of the financial year in which the certificate of completion is obtained, recognising practical difficulties in immediate letting. The amendment is to be applied prospectively. Deemed rental is estimated by applying the prescribed percentage of Annual Letting Value calculated on Municipal Value rather than on construction or investment cost. en-us Thu, 12 Feb 2026 10:07:19 +0530 Thu, 12 Feb 2026 10:07:19 +0530 TaxTMI RSS Generator Unsold flats to be considered for deemed rent under Income from House Property from date of CC… but Municipal Value to be considered as Annual Letting Value https://www.taxtmi.com/article/detailed?id=15866 Unsold flats held as stock in trade are assessable as deemed rent under Income from House Property; an amendment provides that annual value of such unsold flats shall be nil for up to two years from the end of the financial year in which the certificate of completion is obtained, recognising practical difficulties in immediate letting. The amendment is to be applied prospectively. Deemed rental is estimated by applying the prescribed percentage of Annual Letting Value calculated on Municipal Value rather than on construction or investment cost. Articles Income Tax Thu, 12 Feb 2026 10:07:19 +0530 https://www.taxtmi.com/article/detailed?id=15866