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Example: 2) The details of House property are as follows: Municipal value: 60,000, Fair rent: 68,000, Standard Rent: 62,000, Annual rent: 66,000, Unrealised Rent: 2,000. What is the Gross Annual value? |
Chapter No. 03 - House Property - Gross Annual Value - (Sec. 23) ALV u/s 23(1)(a) i.e. Higher of MV or FV but ≤ standard rent = 62,000 ARRR excluding UR = 64,000 GAV u/s 23(1)(b) = 64,000
Dated: 17-8-2015
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