How to calculate gross annual value of house property?

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3 answer(s)
Answer # 1 #

Deduct municipal taxes paid by owner to calculate Net Annual Value, then consider it for income tax computation.

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Answer # 2 #

Gross Annual Value (GAV) is the annual rental potential of a property. Formula: GAV = Higher of Actual Rent Received or Reasonable Expected Rent.

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Answer # 3 #

If property is self-occupied, GAV is considered zero for tax purposes. For let-out property, consider municipal valuation or standard rent as per rules.

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