Income from house property-vacancy allowance ?
This query is : Resolved
20 June 2012
Hello everyone,
i have confusion adjustment of vacancy allowance for computing income from house property
1. In one of the book (ainapure-tybaf, mumbai university)income has been calculated as follows :
I.Reasonable letting value 150
II.acutalrent(vac.loss-10) 130
III.gross annual value = 150
(since RLV is higher than actual rent and even if there is no vacancy loss ie. 130+10=140, still RLV would have been greater than the acutal rent recd/receivable)
2. However in VK singhania treatment is different
I.Resonable letting value 150
II.actual rent received/receivable 140
III.Higher of I OR II 150
IV LESS: vacancy loss 10
v III-IV = GROSS ANNUAL VALUE 140
which one is correct.
waiting for views of the experts
i have confusion adjustment of vacancy allowance for computing income from house property
1. In one of the book (ainapure-tybaf, mumbai university)income has been calculated as follows :
I.Reasonable letting value 150
II.acutalrent(vac.loss-10) 130
III.gross annual value = 150
(since RLV is higher than actual rent and even if there is no vacancy loss ie. 130+10=140, still RLV would have been greater than the acutal rent recd/receivable)
2. However in VK singhania treatment is different
I.Resonable letting value 150
II.actual rent received/receivable 140
III.Higher of I OR II 150
IV LESS: vacancy loss 10
v III-IV = GROSS ANNUAL VALUE 140
which one is correct.
waiting for views of the experts
21 June 2012
Vacancy loss would be different in both cases.if calculated on actual it would be Rs. 10 and if calculated on RLV it would be more than Rs. 10 (i.e.10.71)
anyway,go with singhania
anyway,go with singhania
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
- Difference between Date of Payment and Date of Deduction?
- Unregistered suppliers utility
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- GST Rate for Catering Services
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- ITR 4 and Bank transactions
- FCRA 6 E- Intimation
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- 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
