While computing GAV of House property which is PARTLY LET OUT AND PARTLY VACANT during the year.....
Kunal (Article) (84 Points)
01 April 2010
While computing GAV of House property which is PARTLY LET OUT AND PARTLY VACANT during the year.....
SHUVRO
( (WANT TO LEARN) )
(175 Points)
Replied 01 April 2010
dear kunal
if the loss is partly due to vacancy and partly due to other factors then the secon option is applicable
if the loss is due to other factors only then the GAV will be the annual expected rent of the property
Both MR singhania and MR ahuja are of the same opinion
lets see wht the others feel
SHUVRO
( (WANT TO LEARN) )
(175 Points)
Replied 01 April 2010
now i have a query frnds,
tax frm income from house property is a tax on the inherent capacity of the property to yeild income.
Keeping the above concept in mind plz tell that if the rent received is less than the expected rent because of loss due to vacancy,then why the deductible amount, of loss due to vacancy is calculated on the rate of Actual rent?
Kunal
(Article)
(84 Points)
Replied 02 April 2010
yeah shuvro.....ive seen singhania n d xplanation seems right.....but ne clue wat v could do for d exams....since d module differs.... i hv mah pcc dis may...!!!
Kunal
(Article)
(84 Points)
Replied 02 April 2010
n ur query.... acc 2 me... dats coz had v let out d property, v can safely assume, that v would have recieved dat much more rent....
d alv represents d capacity 2 yeild income for d full yr....n as d prop. is vacnt it hz 2 b reducd !!!
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)