Income under house property
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
25 August 2013
Mr. A has given his house on lease for the period of 3 years.He received Rs.12 lac as a consideration for 3 years.He is required to return 12 lac i.e. without any interest to lessee after lease period.(there is no monthly rent system)
What should be gross annual value in this case?
What should be gross annual value in this case?
25 August 2013
In such case income from such amount investment is considered as gross annual letout value.
Assume if you invested such amount in FD for earning 12% p.a for 3 years period then such interest amount of Rs.1,44,000 shall be the GAV.
OM SAI SRI SAI JAI JAI SAI
Assume if you invested such amount in FD for earning 12% p.a for 3 years period then such interest amount of Rs.1,44,000 shall be the GAV.
OM SAI SRI SAI JAI JAI SAI
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 August 2013
Jai Sri Sai
But if rent for similar type of flat is 15000 pm in that market then what should be gross annual value?
Could you provide any relevant case law or provision for ur answer.
But if rent for similar type of flat is 15000 pm in that market then what should be gross annual value?
Could you provide any relevant case law or provision for ur answer.
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 on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- FORM 26A APPLICABILITY
- Value of property in capital gain
- Regarding TDS Applicability For Director Remuneration
- When TDS on GST applied
- Before GSTAT- APL-02 Vs APL-04
- Annual return in Gst
- Transporter Declaration form
- E-Invoice applicability for new Startup
- Filing of MSME 1 form by companies
- Opting our of sec 44AD
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
