Compute the net annual value of let out house property of Mr. Z with the given
details
Municipal value – Rs. 120000/- per annum
Fair rent value – Rs. 114000/- per annum
Actual Rent Received – Rs. 150000/- per annum
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House Property:
Replies (1)
Since actual rent received is more than MV and FV, actual rent can be used for compute the taxable income.
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