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Tax on house property

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 February 2012 Dear sir ,
plz tell me while calculating income from house property, how to know market value, face face and control rent.actual rent is Rs 21000 only.


how to calculate income from H/P
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
21 February 2012 Fair rent can be decided by getting the idea about a similar property in the same vicinity. Standard Rent Control Act is applicable in certain specific areas only, so you may skip it.
.
The reasonableness has to be decided on the basis of locality only and in small cases like this, AO generally excepts the rental
income as shown by the assessee.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
22 February 2012 Calculate income taking rent as Rs. 21,000/- (actual rent received).
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