CAN NAV BE NIL (IHP)

This query is : Resolved

Guest

Guest (Querist)

17 June 2009 HOW NAV CAN BE NIL?

CASE 1: IF MUNICIPAL VALUE IS NOT GAV: MUNICIPAL TAX IS CERTAIN % OF MUNICIPAL VALUE SINCE,GAV WILL BE HIGHER THAN MUNICIPAL VALUE SO MUNICIPAL TAX WILL ALSO BE LESS THAN GAV SO HOW IT COULD BE POSSIBLE ???

CASE 2: IF MUNICIPAL VALUE IS GAV: THEN ALSO MUNICIPAL VALUE WILL BE CERTAIN % OF MUNICIPAL VALUE SO AGAIN NAV WILL BE POSITIVE???

JUST TELL ME WHETHER I AM RIGHT OR WRONG THAT MUNICIPAL TAX IS % OF MUNICIPAL VALUE I DON'T THING SO MUNICIPAL VALUE WILL BE MORE THAN 100% OF MUNICIPAL VALUE.

CA.Hanumantha Reddy

CA.Hanumantha Reddy (Expert)
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18 June 2009 I think Municipal taxes are caluclated based on the area plus the %defined in that sate. It nowhere link ot HP in Income Tax law

Guest

Guest (Querist)

01 November 2009 I GOT MY ANS. IT IS POSIBLE BECOZ MUNICIPAL TAX IS ALLOWED ON PAIDBASES.

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