Circular No. 3/2012 — Vacancy allowance and unrealised rent
Date: 2012-01-01 Status: ACTIVE Category: Income from House Property Binding on Department: Yes (Section 119 / Section 400 IT Act 2025)
Summary
Treatment of vacancy allowance and unrealised rent in computation of income from house property.
Key Directions
- Vacancy allowance where property remained vacant for part of the year.
- Unrealised rent deductible subject to prescribed conditions.
- Conditions: tenancy bona fide, steps taken for recovery, not undischarged insolvent.
Applicability Under IT Act 2025
Saving Clause: Section 536 of IT Act 2025 saves circulars issued under the 1961 Act “so far as not inconsistent” with the new Act.
| Old Section (1961 Act) | New Section (2025 Act) | Consistent? |
|---|---|---|
| 23(1) | 22 | Yes |
| 25AA | 23 | Yes |
Cross-References
Act Sections
- Section 23(1)
- Section 25AA
- Section 22
- Section 23
Related Circulars
- None identified
Key Case Law (Circular Supremacy)
- To be populated — cases where this circular was cited/applied
Full Text
Full text to be added — see raw/circulars/ for PDF when available
Source
- Official: incometaxindia.gov.in/circulars