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how to compute income from house property?

11 May 2017

heard that income from house property should be computed after comparing the values of municipal valuation, fair market rental value, rent as per rent control act and rent actually received. where to get other values?

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sivaram (Asst Mgr-Taxation) (6918 Points)
Replied 11 May 2017

when you buy a property the value you pay is based on market rates which is the fair value and you can get the guideline value with sub registrar located in that locality for the concerned property and if the locality is governed by rent control act that is the rent you can charge else the rent what you actually collect is the actual rent

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