if a house property consists of 2 floors/2 units & 1 is self -opccupied,do municipal valuation,fair rent etc also have to be divided equally among the 2 floors/units or only municipal taxes paid have to be apportioned?
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Tax - income from house property
Replies (1)
There is no municipal valuation applicable for the part whihc is self-occupied. However while determining the municipal valuation it shud be for the whole premises & then only conisder the MV in the proportion for the part that would be let out on rent.
Municipal taxes paid shud be alos be apportioned only for the part that is let out in the same proportion as rent.
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