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HOUSE PROPERTY and PGBP

This query is : Resolved 
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(Querist)
25 December 2009 A assessee purchased a house property in the month of July. He rented out the property on 1st Dec for Rs 100,000 p.m. What would be the annual value of rent? (ie, should we count it from 1st Dec, or July, or ?)


PGBP

A professional gets 8 Lacs as his professional receipt. + he gets Rs 33 Lacs from other sales business,...Should he undergo TAX AUDIT???
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CA SURENDRA KUMAR RAKHECHA

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CA SURENDRA KUMAR RAKHECHA (Expert)
25 December 2009 For Annual Value purpose calculations has to be made from the month of July.

In second case, since the total turnover including professional receipts is more than Rs.40 Lacs hence tax audit is applicable.

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