income from house property
This query is : Resolved
09 February 2011
HRA
sir,
can vacancy clause be dedudcted from fair market rent incase it is higher on actual rent??
i read in a book that it can be deducted 4m AR i.e actucal rent but what if the market value is higher wil it be deducted 4m it still ??
if possible can u expalin with an example ??
thankss ...
sir,
can vacancy clause be dedudcted from fair market rent incase it is higher on actual rent??
i read in a book that it can be deducted 4m AR i.e actucal rent but what if the market value is higher wil it be deducted 4m it still ??
if possible can u expalin with an example ??
thankss ...
CA PARAS BAFNA
(Expert)
09 February 2011
can vacancy clause be dedudcted from fair market rent in case it is higher on actual rent??
Ans : Yes it can be deducted from Fair Rent.
You must clear the following terms in your mind-
1. Reasonable Expected Rent
2. Annual Rent
3. Actual Rent
4. Rent Receivable after deducting Unrealized Rent.
( From this vacancy loss has not to be deducted)
Ans : Yes it can be deducted from Fair Rent.
You must clear the following terms in your mind-
1. Reasonable Expected Rent
2. Annual Rent
3. Actual Rent
4. Rent Receivable after deducting Unrealized Rent.
( From this vacancy loss has not to be deducted)
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