valuation

If the property is let and was vacant during the previous year the annual rent means the amount which bears the same proportion ti the amount of actual rent received or receivable by the owner for the period for which the property is let as the period of 12 months bears to such period.

For instance, where a person receives Rs 8400 as rent of a house which is let for a period of 7.5 months during the relevent previous year, annual rent will be Rs. 13440 (being Rs. 8400*12/7.5)