Calculation ofgav
This query is : Resolved
30 October 2011
how to calculate the GAV when unrealised rent is given with vacancy?
eg.let
mv=2,00,000
fr=1,50,000
sr=2,50,000
actual rent=3,10,100
unrealised ret=41,000
vacant period=half a month amounted rupees 7,000
what is the GAV?
eg.let
mv=2,00,000
fr=1,50,000
sr=2,50,000
actual rent=3,10,100
unrealised ret=41,000
vacant period=half a month amounted rupees 7,000
what is the GAV?
30 October 2011
Nikhil,
Actual Rent means the Rent Received in terms of money. Unrealised rent means the rent has not been received at all.
.
When Vacant Period Rent is given separately it will be first added in Actual Rent.
.
This is done to compare with the Reasonable Expected Rent(RER).
.
A. So 310100+7000=317100 is the amount which will be compared with RER.
.
B. Here RER is MV= 200000.
.
When A & B are compared, the higher of thse two is selected. Here A is higher.
.
So 317100/- is selected.
From this figure Vacancy loss, which is 7000/- in the query, is deducted.
.
317100-7000=310100
.
310100 is the GAV.
.
Actual Rent means the Rent Received in terms of money. Unrealised rent means the rent has not been received at all.
.
When Vacant Period Rent is given separately it will be first added in Actual Rent.
.
This is done to compare with the Reasonable Expected Rent(RER).
.
A. So 310100+7000=317100 is the amount which will be compared with RER.
.
B. Here RER is MV= 200000.
.
When A & B are compared, the higher of thse two is selected. Here A is higher.
.
So 317100/- is selected.
From this figure Vacancy loss, which is 7000/- in the query, is deducted.
.
317100-7000=310100
.
310100 is the GAV.
.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Filing d ITR by registered legal heir
- Tax implications of gift to maternal uncle
- Closure of a PVT LTD company
- 26QB correction - no data available error for fully consumed/processed with default
- ROC filings for the first year of incorporation
- Real estate business by a partnership firm where both of the partners are SC/ST
- When I Login E-invoice portal with waybill user id and pw, it is showing 3011 error data
- Short term capital gain Section 87A
- TDS on Purchase of Immovable Property in case of Co Owner
- Refund of excess TDS on rent payments
- Unable to convert User role from Registered user to Business user on MCA V3 portal
- Please help with SAC Codes (6 digits) for below mentioned services provided by Chartered Accountant
- Need to send letter to GST dept. For claimed missed ITC
- PRINTING PRESS UNDER COMPOSITION SCHEME
- 140-A TAX WRONGLY PAID PAN NO
- CSR funding for private limited companies
- SAC codes for Chartered Accountant
- Professional tax deduction monthly
- Cross charges verses Isd methof
- Refund Application in RFD 01 for Export without payment of tax
CAclubindia
