Question

What do you understand by the term Annual Value of
House Property‟ ? How would you determine the annual
value of a house property which remained vacant for part of
the previous year ?

Answer 1

Answer:

Explanation:

The annual value of a property is the sum for which a property is reasonably expected to be let from year to year. Hence, the annual value of a property is the amount of notional rent which could have been derived, had the property been let.