plz help me to slove this problm

457 views 3 replies

X is owner of big house which contain 4 flats of equal size. house has municipal value of Rs. 1,00,000. one flat is self occupied, three are let out to different person @ of Rs. 2000per month per flat which is let out remain vacant for 2 months . municipal tax paid during the year is Rs. 8000. find the income from house propert.

 

Is any differance in valuation when these are of different of size??

Replies (3)

 

Actual Rent received     2000*10*3       60,000
           
Municipal Valuation     3 flats       75,000
           
Where let out property is vacant for a part of the year and owing to vacancy, the acutal rent received is less than Valuation,
then acutal rent received or receivable will be the GAV  
           
GAV               60,000
Less: Municipal taxes 8000/4*3          6,000
NAV               54,000

Dear Kaushik,

Bhai I feel in this case GAV will be 63,000 & not 60,000...since Loss of Rs. 3,000 is not because of vacancy...

If there was no vacancy then Actual Rent would have been = 2000*12*3 = 72,000

& Municipal Valuation is 75,000

Since  the loss of Rs. 3,000 is not due to vacancy & hence it will not be excluded in computing GAV.

 

Yaa sir, I assumed that the loss is due to vacancy.

Babita please follow Amir sir's explanation and also find " Have you incurred loss in actual receipt of rent ?" and "Has that been a cause of Vacancy or not?"

Thanks alot

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 24 June 2026
ARTICLE ASSISTANT

BHUPINDER SHAH AND COMPANY

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 27 June 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details