house property - part of the year self occupied - part year
This query is : Resolved
22 September 2008
sirs
when a house property is let out for part of the year and self occupied for part of the year then it is treated as if it is a let out property. And in determining annual value we consider muncipal value and fair rent for the whole year. should we take actual rent for only let out period or whole year?
ex: fair rent for whole year 20000. muncipal value whole year 22000. actual rent 2000 per month and let out only for 6 months as the remaining 6 months it was self occupied. in calculation of gross annual value should we consider actual rent as 24000 or 12000?
thanks
tima
when a house property is let out for part of the year and self occupied for part of the year then it is treated as if it is a let out property. And in determining annual value we consider muncipal value and fair rent for the whole year. should we take actual rent for only let out period or whole year?
ex: fair rent for whole year 20000. muncipal value whole year 22000. actual rent 2000 per month and let out only for 6 months as the remaining 6 months it was self occupied. in calculation of gross annual value should we consider actual rent as 24000 or 12000?
thanks
tima
22 September 2008
U have to consider only the actual rent for the let out period
God bless U
God bless U
CA. Amit Daga
(Expert)
22 September 2008
VISU IS CORRECT
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