House property
This query is : Resolved
11 January 2012
Whether Following Case is Possible or Not?
Expected Rent = 5000 p.m.
Rent Received/Receivable= Nil(Fully Vacant)
GAV = 0(Owing To Vacancy)
NAV = 0
Less:
24(a) = 0
24(b) = 200000
Loss u/h HP = 200000
(can we say that rent Rec./Rece. shall be 6000 p.m. if the house was let out.so, GAV Shall be NIL owing to Vacancy.)
Expected Rent = 5000 p.m.
Rent Received/Receivable= Nil(Fully Vacant)
GAV = 0(Owing To Vacancy)
NAV = 0
Less:
24(a) = 0
24(b) = 200000
Loss u/h HP = 200000
(can we say that rent Rec./Rece. shall be 6000 p.m. if the house was let out.so, GAV Shall be NIL owing to Vacancy.)
12 January 2012
If house is fully vacant due to employement purpose and if it was fully so throughout the year then GAV can be taken as nil.
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