House property
This query is : Resolved
13 March 2010
Q. Standard rent Rs. 11000 per month
Actual rent Rs. 10000 per month
Property Letout whole of the Previous year. compute House property income ?
Please answer this Question
thank you
Actual rent Rs. 10000 per month
Property Letout whole of the Previous year. compute House property income ?
Please answer this Question
thank you
CA Ashok Kumar Sahu
(Expert)
13 March 2010
Gross annual value is higher of Actual rent received or Fair market vale subject to maximum of stranded rent.
in your case is GAV is 120000/-
less 30% slandered ded'n
income from HP is Rs. 84,000/-
in your case is GAV is 120000/-
less 30% slandered ded'n
income from HP is Rs. 84,000/-
CMA Ramesh Krishnan
(Expert)
13 March 2010
Agreed with mr.Ashok
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