Question

municipal value of house is rs 17000 fear and is rs 8000 standard rate is 84000 and actual rate is rs 18000 the gross annual value will be​

Answer 1

Gross Annual Value is computed by three steps.

Step→ Fair value and municipal value whichever is higher.

Step 2→ Answer of Step 1 and Standard value Whichever is lower. {Estimated value of rent}

Step 3→ Estimated Rent or Answer of Step 2 and Actual value of rent whichever is higher.

Solution →

GAV →

• Fair value → 8000
• Municipal Value → 17000
• Whichever is higher → 17000
• Standard Rent → 84000
• Whichever is lower → 17000
• Actual Rent → 18000
• Whichever is Higher→ 18000

SO, GROSS ANNUAL VALUE = 18,000

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