My father owns three house in different places. The income from house rent is around Rs.196000/annum. The assist value as per the Balance sheet is around 47 lac. i saw like we can rebate 30% of annual value from the Rent received. Here the Annual value refer to total rent received (Rs 196000)or value as per balance sheet (Rs 47 lac). kindly clarify on this.
what is the depreciation value for the house building?
CAclubindia
