16. Compute Gross Annual Value from the
given information : Municipal Value Rs.
60,000 ; Fair Rent Rs. 70.000 : Actual
Rent Rs. 65,000.
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Answer:
Municipal value – This is the value as determined by the Municipal authorities for levying Municipal taxes on house property.
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Table of Contents.
Example – 1
Fair Rent (Rs 90,000 * 12) 10,80,000
Municipal Value (Rs 72,000 *12) 8,64,000
Standard Rent (Rs 80,000 * 12) 9,60,000
Actual Rent (Rs 1,00,000 * 12) 12,00,000
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