house property (Income Tax)

This query is : Resolved

Hardeep Singh

( Author )
17 February 2011

sir, if an assessee has two houses and one self is occupied and other is let out.
but let out only for 10 months @ rs. 1000 then actual receivable rent to be compared with expected rent is rs.10000 or rs.12000.

CA PARAS BAFNA

( Expert )
17 February 2011

Expected Rent = 12000
Rent Receivable ( Without adjusting the vacancy loss =12000
*
Higher of the two =12000
Less: Vacancy Loss=2000
*
Gross Annual Value= 10000.

Hardeep Singh

( Author )
18 February 2011

sir i asked you wrongly actually the question is as:
if an assessee has two houses and one self is occupied and other is let out.
but let out only for 10 months @ Rs. 1000 and self occupied for remaining two months then actual receivable rent which is to be
compared with expected rent will be Rs. 10000 or Rs. 12000.

CA PARAS BAFNA

( Expert )
18 February 2011

Answer to the modified query-

Expected Rent = 12000
Rent Receivable ( Without adjusting the vacancy loss =12000
*
Higher of the two =12000
Less: Vacancy Loss=0000
*
Gross Annual Value= 12000.