28 May 2008
If a House property is available for letting out for 10 months then shall the expected reasonable rent be reduced proportionately to compare with the actual rent received or receivable to arrive at Gross Annual Value?
23. (1) For the purposes of section 22, the annual value of any property shall be deemed to be
(a) the sum for which the property might reasonably be expected to let from year to year; or
(b) ---forget--- ; or
(c) where the property or any part of the property is let and was vacant during the whole or any part of the previous year and owing to such vacancy the actual rent received or receivable by the owner in respect thereof is less than the sum referred to in clause (a), the amount so received or receivable
means if 10 months' actual rent is less than resonable rent for full year, that actual rent will be taken as income.
29 May 2008
Sir Here in my query the actual rent is less then expected reasonable rent not owing to vacancy rather the property is available for letting for ten months only....
Now my questiog is shall the municipal valuation, fair rent and standard rent be reduced proportionately to 10 months to compare with actual rent received or receviable(which is for 10 months) to arrive at Gross annual valure?
CAclubindia
