Can any one tell me the concept of Notional rent? how it has to be calculated?
4 Replies
Udgam Koomar
(Tax Technologist)
(1949 Points)
Replied 02 August 2016
Notional rent is the rent you would have got had you given your house on rent. I thing you can get fair market value or average annual value, what I do is repeat the same rent value what i got when it was letout.
ramana
(hyderabad)
(60 Points)
Replied 02 August 2016
I have on client he has 10 floors building, he let out the each floor in different months. He got occupancy certificate in july 15. how to calculate notional rent in this case?
sachin nair
(article)
(32 Points)
Replied 07 November 2016
can any one tell me,what is the accounting treatment for notional rent??
sachin nair
(article)
(32 Points)
Replied 07 November 2016
can any one tell me,what is the accounting treatment for notional rent??
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