NAV negative

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145 Points Posted on 24 July 2020
can NAV be negative in any situation!!!?
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On 24 July 2020 at 15:35 Report
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The discussion clarifies whether the Net Annual Value (NAV) for a house property can be negative. While municipal taxes paid exceeding the rent received might seem to lead to a negative NAV, the rules state that NAV can be reduced to zero at most. However, the overall 'Income from House Property' can indeed be negative if interest paid on a housing loan exceeds any income generated.

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Tax and Business Consultant
11616 Points Posted on 24 July 2020
Ma'aam, You are asking about NAV of which ? Mutual fund or Property or Shares and security??
can you elobrate you query.
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On 24 July 2020 at 15:47
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145 Points Posted on 24 July 2020
House property!..
net annual value
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On 24 July 2020 at 15:56
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Tax and Business Consultant
11616 Points Posted on 24 July 2020
In calculation of income under head Income from house property,
NAV can be negative only in one case if you paid municipal tax/ property tax more than your rent Income.
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On 24 July 2020 at 20:45
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Student
23693 Points Posted on 24 July 2020
Yes Ma'am, the NAV can be negative...
Incase of Self Occupied Property, the NAV is "Nil".
And if the Expenses allowed ( Municipal Tax, Water Tax etc ) exceeds the Rent received, then there might be a situation of NEGATIVE NAV.
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On 24 July 2020 at 21:48
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145 Points Posted on 25 July 2020
I m getting confusion ..
in case Municipal taxes paid are greater than GAV than..
maximum deduction for municipal taxes will subject to maximum of GAV or..
we can deduct it directly and ans will NAV negative..
in such cases
NAV will negative or Nil
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On 25 July 2020 at 16:47
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Tax and Business Consultant
11616 Points Posted on 25 July 2020
Yes, Municipal tax is a deduction which can reduce the GAV to come up NAV upto a maximum of GAV amount. In other words, NAV can be zero but CAN'T BE NEGATIVE. Only Income from House Property can be negative due to Interest on Housing Loan.
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On 25 July 2020 at 17:09

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