If a particular house property which is not a self occupied is vacant during a particular assessment year say A.Y 10-11,
then how do we determine its annual value??
The said house property was a let out property in A.Y 09-10.
4 Replies
C.A / C.S. DHARMESH SOJITRA
(C.A/C.S - PRACTICE )
(149 Points)
Replied 15 February 2011
If Assessee have more than One House Property, He has option to select One Hose as a Self Occupied, And Any Othe Self Occupied House Property is Cosider as Deemed let out Property. And Calculated as Let out Property.
CA Himanshu Khurana
(Chartered Accountant)
(813 Points)
Replied 15 February 2011
Net Annual value can be calculated:
Fair Value Or Muncipal Value (Which is Higher) & then compare with Standard Rent (Which is Lower) & then which value coms then compare with Actual Rent Recipt.
CA Himanshu Khurana
(Chartered Accountant)
(813 Points)
Replied 15 February 2011
| Originally posted by : DHARMESH SOJITRA | ||
 |
If Assessee have more than One House Property, He has option to select One Hose as a Self Occupied, And Any Othe Self Occupied House Property is Cosider as Deemed let out Property. And Calculated as Let out Property. |
 |
Net Annual value can be calculated:
Fair Value Or Muncipal Value (Which is Higher) & then compare with Standard Rent (Which is Lower) & then which value coms then compare with Actual Rent Recipt.
for Ex. pls view attach file
Attached File : 8 annual value.xls downloaded: 180 times
@*CS Siddharth Bumb. *
(B.Com, CA Final, CS )
(5270 Points)
Replied 16 February 2011
fair value or municiple valuation whichever is higher subject to standard rent....
Recent Topics
- GST registration -notice
- GSTIN Suspended Form GST Reg 17
- Request for GST Clarification regarding ITC
- Is Capital Gain exemption available for Property a
- EPF CONTRIBUION BY EMPLOYER
- Letter of credit -seller procedure
- Filling form 26 QB
- RPT AND ITC ISSUE
- Tax Liability and ITC Summary related Issues
- REQUIRED FORMAT FOR AMENDMENT TO PARTNERSHIP DEED
CAclubindia
