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Stamp value of house property

Others 343 views 4 replies
how to know stamp value(municipal value) of house property while calculation of income from house property
Replies (4)

Please clarify your question, as stamp value of a property has no use while calculating income from house property. 

 

We need stamp value of property only at the time of sale or purchase of property. 

Thank you sir for replying  I need to know how Municipal value is taken while calculating income from house property 

What I understood from your question. you need to know the fair rent of a vacant house property so that notional rent could be included while calculating income from house property. 

 

so fair rent is a rent which can be expected as rent in same locality. so you have to decide yourself as which figure should include in income from house property.    

 

Moreover, Municipal value is a valuation which a municipal committee taken basis to calculate house tax only for the said property.

Hope, now you got a clear answer of your question. 

 

Is it mean that municipal value is irrelevant while calculating income from  house  property 

And we shall consider fair rent only

 

Thank you sir


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