Taxation · Income from House Property
Under what condition can the Net Annual Value (NAV) of a let-out house property be negative under the Income Tax Act, 1961?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1When the house property remains vacant throughout the previous year.
- 2When the house property is self-occupied by the owner.
- 3When the municipal taxes paid by the owner during the year exceed the Gross Annual Value.✓
- 4When the deductions under Section 24 exceed the gross income.
Correct answer
When the municipal taxes paid by the owner during the year exceed the Gross Annual Value.
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