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 ?
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The annual value of house property means the yearly rent you could get if the house was rented out. To calculate the annual value of house property, you will have to multiply the tentative monthly rent by 12 to get the annual value. For example, if the tentative monthly rent is Rs 5,000, then property annual value.
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