In case of Asst Yr 2013-14, a house property is under construction upto December 2012. In December 2012, the construction is completed. In January 2013, the HP is vacant and in Feb 2013 onwards the HP is let out. So my question is what shall be the gross annual value in case of the above said property. Should i calculate Gross annual value taking rent for 12 months or only 2 months considering property to be vacant for 10 months?
What is the implication for property being under construction for 1st 9 months- to considered for GAV or not?
CAclubindia
