22. Municipal value of a house is 9,000, Fair rent 14,000, Standard rent 12,000. The house
property has been let for 1,200 p.m. and was vacant for three months during the previous year. Municipal taxes paid during the year were 4,000. Net Annual Value is
Answers
Answered by
0
And is Rs 6,800
Explanation:
Standard rent 12,000 - Municipal tax 4000
₹ 8000
Deduct the 1200 from 8000
amt is 6800
final ans 6800
Answered by
0
Answer:
Net Annual Value is INR 6,800/-.
Explanation:
To find NAV
- first, we have to see between fair rent & municipal value whichever is higher.
- Second, we have to check between the standard rent and the value that came from municipal tax & fair rent whichever is higher.
- third, we have to check between the value that came from the second and make a comparison between actual rent which one is higher, and that amount will be NAV.
=Standard rent - Municipal tax
= 12,000 - 4,000
=8,000/-
Then we have to deduct the rent of the property that is let out from the amount from deducting standard rent & municipal tax.
=8000-1200
=6,800/-
Thus, the NAV will be Rs. 6,800/-.
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