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mr .b has let out house property for a monthly rent of 20000.s municipal valuation is 250000. its fair rental value is 240000 its has been let out from 1-10-91. mr .b paid 10000 as municipal taxes . municipal taxes paid by the tenant is 5000. 3000 municipal taxes are due ut not paid . out 10000 paid by b 2000 relates to subsequent years find out the net annual value of the house property for the assessment year 21-22
Replies (1)
  • Gross Annual Value (GAV): ₹2,50,000

  • Less: Municipal Taxes paid by owner: ₹10,000

  • Net Annual Value (NAV): ₹2,40,000

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