Income from house property

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bhavesh goswami (Querist)
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12 April 2012 Dear all,

one of my friend is having income from let out house property of Rs.1,45,000/-.Now how to calculate taxable income? whether step written in income tax should be followed?

If yes then how to know about 1. Municiple value 2. Fair Market Value

Waiting for your reply.
Thanks in advance.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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15 April 2012 Yes. need to follow the Income tax rules. find out the Municipal value, Fair value, Actual rent received & any Standard rent control act is applicable all this areas has to be find out.

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bhavesh goswami

bhavesh goswami (Querist)
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16 April 2012 But how to find municiple value and Fair Market Value?

Pls Advice.

Aashok Kumar Sharma online

Aashok Kumar Sharma online

(Expert)
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30 July 2024 https://docs.google.com/document/d/1PhQtmhaBRFxfBX_A4ftUJGmFjPtSVwEhWLrUgnQTNNw/edit?usp=sharing

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