I want to know if a person owns 2 houses and 1 is self-occupied,
Other is rented for only 3 months during the year, so in this case which income should be considered 3 months actual rent or notional deemed rent for the entire year.
Please help. Thanks in advance
fair rent, muncipal value, standard rent , rent for month do u have any details about that sir. give me brief account
In your case, the annual value for the second house is the municipal value or fair rent whichever is higher. This should not be more than Standard Rent.
But if actual rent is less than the above because of vacancy, then actual rent is the fair rent.
Please work our accordingly.
vinofaca74 @ gmail.com
In your case we considered 3 month actual rent because actual rent is less only due to vacany.
Notional Rent for 12 months or actual rent, whichever is lower.
vinodaca74 @ gmail.com
agree with priyanka gupta
O P Bagla & Co LLP
New Delhi
CA Inter
View Details
Boutique Investment Bank & Transaction Advisory Firm
Gurgaon
CA
View Details
CAclubindia
