Please do let me know How to find Municipal Value for calculating Gross Annual Value under the head income from house property Actual Rent is 75000/-(6 Month) so I want to compare with the M.V. for filling ITR before due date
28 July 2016
you can safely go by the figure of Actual Rent. (For academic purpose, every municipality/corporation decides the rateable value of property. It is based on the area in which the property is situated. Based on this rateable value, property taxes bill is raised. In most of the property taxes bill, you will find this value abbrevated as A.R.V.)
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