Quaries : computation of income from let out house property
Abhishek Kumar (student) (371 Points)
29 December 2013Abhishek Kumar (student) (371 Points)
29 December 2013
CA Deepesh Ruhela
(Keen to Learn)
(3271 Points)
Replied 29 December 2013
Annual Rent Recd. 26400*12 | |
(Higher of Muncipal value & Actual Rent recd.) | 316800.00 |
Less: Muncipal Tax 10% PAID during the year | 31680.00 |
Net Annual Value | 285120.00 |
Less: Deduction u/s 24(1)(a) | |
30% of NAV | 85536.00 |
Income from Hosue property | 199584.00 |
Abhishek Kumar
(student)
(371 Points)
Replied 29 December 2013
CA Deepesh Ruhela
(Keen to Learn)
(3271 Points)
Replied 29 December 2013
Whether Rent recd. monthly or annually? because i consider it Monthly.