Income from house property - ALV u/s 23(1)(a) - In determining ...

Determining Annual Letting Value for Property Income: Key Factors u/s 23(1)(a) of Income Tax Act.

September 5, 2020

Case Laws Income Tax AT

Income from house property - ALV u/s 23(1)(a) - In determining the reasonable rent, several factors have to be taken into consideration, such as, location of the property, annual ratable value of the property fixed by the municipalities, rents of similar properties in neighborhood, rent which the property is likely to fetch having regard to demand and supply, cost of construction of the property and nature and history of the property. These factors play vital role in determining reasonable expected rent of a house property. - AT

View Source

← Previous Next →

Income from house property - ALV u/s 23(1)(a) - In determining ...

Determining Annual Letting Value for Property Income: Key Factors u/s 23(1)(a) of Income Tax Act.

September 5, 2020

Case Laws Income Tax AT

You may also like:

Income from house property - Deduction u/s 23(1) - Annual mixed use charges paid by the assessee to Municipal Corporation - The said charges is in the nature of...

The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

While calculating annual value of the let out property, maintenance charges paid to the society by the assessee is admissible deduction from the annual let out value u/s 23(1)(b)

Scope of income from house property u/s 23(1)(a) - The notional interest on security deposits cannot be taken into consideration for determining and computing the...

Computing the Annual Letting Value - income from house property - Property remained vacant - Assessee in the present case had rightly determined the ‘annual value’ of...

Addition on account of house rent - Income from house property - The AO failed to appreciate such estimation of annual letable value as per provision of Section 23(1...

Income from house property - deduction (Vacancy allowance) - Notably the words used in section 23(1)(c) of the Act are “the property is let and was vacant during the...

Income from house property - Annual value estimation u/s 23 - Property was rent out the company by its directs at lower rent and rent out to others at higher rate -...

Income from house property - notional rental income - no efforts were made by the Assessing Officer to determine the monthly rental/rate at which the Leased Property...

Income from house property - deemed rental income - notional annual value (NAV) u/s 23(1)(a) - without allowing a reasonable period or time gap from the completion of...

Estimation of income from house property - AO failed to appreciate such estimation of annual letable value as per provision of Section 23(1)(a) was called for only in...

Income from house property - consider the Ambey Valley property as self-occupied property - determination of annual value - CIT(A) has upheld that the 7% of cost of...

Annual Letting Value (ALV) - rented property - no addition to the ALV can be made on account of notional interest on interest free deposit with the landlord u/s.23(1)(a) - AT

Determination of Annual Letting value (ALV) of property vacant during the year – Section 23(1)(c) – rent received or receivable from the property in question during the...

Income from house property - Annual rent - Whether the Income Tax Appellate Tribunal was correct in law in directing the Assessing Officer to determine the property...

Quick Updates: