D
00
32 000
1. Mr. Ted owns a house property the particulars of which for the Previous Year 2017-18 are as belowa
Fair rent-32,00,000
Municipal Valuation-31,90,000
Standard Rent-1,75,000
Actual Rent received- 16,000 per month X 2 = 193000
Municipal Taxes paid- 69,000, which includes the arrears for previous year 2015-16 and 2016-17
amounting to 33,000.
Answers
Answered by
0
Answer:
I think amount are not mention correct in this question but I help u to calculate the answer
At first
gross annual value is calculated
for this following steps has been taken
(1) fair rent and municipal value is compared
whichever us higher
(2) answer of step 1 and standard rent whichever is less
(3) answer if step 2 and actual rent whichever is higher
calculated answer is gross annual value
(-) municipal taxes. 69000
annual value =
less 30% standard deduction
*30% us calculated on annual value)
Explanation:
municipal taxes are allowed in actual payment basis so arrear of previous year also allowed
Similar questions
Social Sciences,
2 months ago
English,
2 months ago
Computer Science,
2 months ago
Chinese,
4 months ago
English,
10 months ago
English,
10 months ago