Income from house property
This query is : Resolved
23 December 2011
we filed for the asst year 10-11 as income from house property, rent recd from 01-04-2009 to 31-03-2010 is rs 120000( 10 *12mnths) tenant vacated the premises on 01-04-2010 and through out the previous year premises is vacant and question is for the asst year 11-12 how to show the income from house property
23 December 2011
Gross annual value will be standard rent as per rent control act.
Less: Muncipal Taxes Paid
Net Annual Value
Less : Deduction u/s 24
30% of Net Annual Value
Interest on Housing Loan
Income from House Property
Less: Muncipal Taxes Paid
Net Annual Value
Less : Deduction u/s 24
30% of Net Annual Value
Interest on Housing Loan
Income from House Property
24 December 2011
First calculate Gross Annual Value (GAV)
GAV is Higher of Fair Rental Value and Munispal Value but limited to Standard Rent.
then
GAV ******
- Munispal Tax
----------------
Net Annual Value
- 30%
- Intrest
-------------
Income from HP
GAV is Higher of Fair Rental Value and Munispal Value but limited to Standard Rent.
then
GAV ******
- Munispal Tax
----------------
Net Annual Value
- 30%
- Intrest
-------------
Income from HP
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- Sec 44ada applicable only or both
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- RELATED TO TRIBUNAL APPEAL
- Portuguese Civil Code IT Return
- LIC maturity claim whether taxable
- HOUSING LOAN ISSUE
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
