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Expected rent

Direct Taxation

In case only information available is market value and wrench actually received what to do to calculate expected rent. In the illustrations one is done using market value as expected rent. Where as another problem done with the actual rent per month Ã?12

Gayathri K V

CA Inter

★ 12K+

31-Mar-21 19:50

451

Answers (1)

Best Answer

The gross annual value shall be higher of expected rent or rent received/receivable for the let out period. Expected rent is higher of the fair rent and municipal value. For computing GAV the rent received / receivable is taken, ie. in cas of let out but vacant cases need to take the amount receivable which will be different from actual rent received.... so consider rent receivable