house property

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Hardeep Singh (Querist)

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

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

Hardeep Singh (Querist)

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

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.

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