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Shortcut formula to calculation of GAV under Income from House Property

16041 views 39 replies

Guest

If Standard Rent is given in problem (i.e When Standard Rent is applicable)	If Standard Rent is not given in problem (i.e When Standard Rent is not applicable)
(A) MARKET VALUE * * * * *	(A) MARKET VALUE * * * * *
(B) FAIR RENT * * * * *	(B) FAIR RENT * * * * *
(C) HIGHER OF A & B * * * * *	(C) HIGHER OF A & B * * * * *
(D) STANDARD RENT * * * * *
(E) LOWER OF C & D * * * * *
(F) (ANNUAL RENT minus * * * * * UNREALISED RENT)	(D) (ANNUAL RENT minus * * * * * UNREALISED RENT)
(G) HIGHER OF E & F * * * * *	(E) HIGHER OF C & D * * * *
(H) Loss Due to Vacancy * * * *	(F) Loss Due to Vacancy * * * * *
*GROSS ANNUAL VALUE * * * * (G minus H)**	*GROSS ANNUAL VALUE * * * * (E minus F)**

Regard

Amit Todkari

Replies (39)

CA Madhukiran Reddy

CHARTERED ACCOUNTANT

12714 Points Posted on 21 March 2011

Hey Amit seriously i followed this method only for my examination

Thanks for sharing bro.....

Vikas Gupta

CHARTERED ACCOUNTANT

16295 Points Posted on 21 March 2011

Thanks yaar

Guest

Originally posted by : Saritha and Vikas
	Thanks yaar

CS LLB Pulkit Gupta

https://www.facebook.com/pages/Life-and-

16631 Points Posted on 21 March 2011

Gr8 . This is a useful concept

tony matthew

CA in Practice

611 Points Posted on 21 March 2011

Thank you Mr Amit

Suresh Prasad

www.aubsp.com

15630 Points Posted on 21 March 2011

Good one……!!!!!!!!!!!!

Better presentation jee……..!!!!!!!!!!

Guest

To understand income tax in its simplest of forms students may refer "Income Tax with Service Tax & Vat", by Vikash Mundhra.
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Those who fear income tax subject, will feel comfortable with this book.
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The Act is not going to change in any of the books, its just that how the writer has presented it and students choose accordingly depending on their liking for a particular way of presentation.