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Querist : Anonymous

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Querist : Anonymous (Querist)
20 June 2011 Can Net Annual Value be negative due to excess payment of Municipal Tax?
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
20 June 2011 It can be negative as Municipal Taxes are allowable on payment basis only.
So, in a case where Gross Annual Value is less than the Municipal Taxes, NAV will be
negative in such a case.
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SHASHI VARDHAN

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SHASHI VARDHAN (Expert)
20 June 2011 Iam agree with Mr. Paras
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