Stamp value of house property

how to know stamp value(municipal value) of house property while calculation of income from house property
Replies (4)
Quick Summary
This discussion clarifies the role of stamp value (municipal value) in calculating income from house property for tax purposes. It explains that stamp value is primarily relevant for property sale or purchase transactions. For income tax calculations, the focus is on fair rent, which represents the expected rental income for a vacant property in the same locality, rather than the municipal valuation used for house tax.

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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