House Property

This query is : Resolved

Miss Rinkal (Querist)
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12 January 2009 In the given example what would be the GAV?
Municipal Valuation Rs 70000/-
Fair Rent Rs 75000/-
Standard Rent Rs 60000/-
Actual Rent Rs 8000/-
Property Vacant(in months) 10
Vacancy Rent Rs 40000/-

2. What is the taxable Income from House Property for the A.Y 2008-09 & A.Y 2009-10?
Case A Case B
Municipal Valuation 380000 340000
Fair Rent 370000 390000
Standard Rent 340000 340000
Actual Rent 432000 350000
Unrealised Rent of
P.Y 2008-09
(Allowable as per Rule 4) 60000 60000
Municipal taxes paid 76000 76000
Interest on Loan due 72000 72000
Unrealised Rent recovered
in P.Y 2008-09 56000 56000

Miss Rinkal

Miss Rinkal (Querist)
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21 January 2009 Thank You, Sir

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