Computation of Gross annual value MAX ( ACTUAL RENT,MIN(STANDARD RENT,MAX(FAIR RENT,MUNIC

Sr.No. Particulars Rs
1 Fair rent 150000
2 Municipal Rent 180000
3 Standard Rent 170000
4 Actual Rent 185000
5 Gross Annual Value 185000
T,MAX(FAIR RENT,MUNICIPAL RENT)))
Computation of Gross annual value MAX ( ACTUAL RENT,MIN(STANDARD RENT,MAX(FAIR RENT,MUNIC

Sr.No. Particulars House 1(rs) House 2(rs) House 3(rs)

1 Fair rent 90000 60000 65000
2 Municipal Rent 80000 55000 65000
3 Standard Rent 75000 58000
4 Actual Rent 72000 72000
5 Gross Annual Value 90000 72000 72000
RENT,MAX(FAIR RENT,MUNICIPAL RENT)))

House 4(rs) House 5(rs)

25000 75000
24000 80000
78000
30000 72000
30000 78000
Computation of Gross annual value MAX ( ACTUAL RENT,MIN(STANDARD RENT,MAX(FAIR RENT,MUNIC

Sr.No. Particulars House 1(rs) House 2(rs) House 3(rs)

1 Fair rent 60000 55000 45000
2 Municipal Rent 70000 70000 45000
3 Standard Rent 65000 68000
4 Actual Rent 52000 62000 70000
5 Gross Annual Value 70000 65000 70000
RENT,MAX(FAIR RENT,MUNICIPAL RENT)))

House 4(rs) House 5(rs)

34000 86000
35000 79000
88000
40000 82000
40000 86000
Computation of Income from House property

Sr. No. Particulars rs rs

1 Gross annual value
2 Less: Municipal TAXES
3 Net Annual value 0
4 Less: Deduction u/s 24
a standard deduction @30% u/s 24 (a) 0
b Interest on borrowed capital u/s 24 (b) 0
5 Income from House Property 0
Book name
vishal bhattad gst
akshansh garg gst
bhavar bodana taxation &international taxation
yash khandelwal global taxation

rule 4 if you are not getting rent on a certain month you are exempt for taxable rent
but it should be bonafide
Computation of Income from House property

Sr. No. Particulars rs rs

1 Gross annual value 121000
2 Less: Municipal TAXES 13000
3 Net Annual value 108000
4 Less: Deduction u/s 24
a standard deduction @30% u/s 24 (a) 32400
b Interest on borrowed capital u/s 24 (b) 40000 72400
5 Income from House Property 35600

Sr. no Particulars rs
1 Fair rent 110000
2 Municipal rent 130000
3 Standard Rent 120000
4 Actual rent Receivable 132000
Less: Unrealized rent 11000
5 Actual rent for GAV 121000
6 GAV 121000
MAX ( ACTUAL RENT,MIN(STANDARD RENT,MAX(FAIR RENT,MUNICIPAL RENT)))
Computation of Income from House property FOR Miss Veera

Sr. No. Particulars rs rs

1 Gross annual value 198000
2 Less: Municipal TAXES 16000
3 Net Annual value 182000
4 Less: Deduction u/s 24
a standard deduction @30% u/s 24 (a) 54600
b Interest on borrowed capital u/s 24 (b) 60000 114600
5 Income from House Property 67400

Sr. no Particulars rs
1 Fair rent 180000
2 Municipal rent 160000
3 Standard Rent 150000
4 Actual rent Receivable 216000
Less: Unrealized rent 18000
5 Actual rent for GAV 198000
6 GAV 198000
Computation of Income from House property FOR Mr.shetty
Assuming all the properties are let out calculation of house 1
Sr. No. Particulars rs
1 Gross annual value 250000
2 Less: Municipal TAXES 26000
3 Net Annual value
4 Less: Deduction u/s 24
a standard deduction @30% u/s 24 (a) 67200
b Interest on borrowed capital u/s 24 (b)
5 Income from House Property

Sr. no Particulars ₹
1 Fair rent 275000
2 Municipal rent 200000
3 Standard Rent 250000
4 Actual rent Receivable 0
Less: Unrealized rent 0
5 Actual rent for GAV 0
6 GAV 250000

Calculation of House Property Income

Sr.No Particulars
1 Income From House 1 (Self Occupied)
2 Income From House 2 (Self Occupied)
3 Income From House 3 (deemed let out)
Taxable Income From House Property

Conclusion:
1 House 3 is considered as deemed to be let out as the income is low
2 House 1&2 shall be considered as self-occupied properties

MU Notes:
1 The above calculations have been made assuming that all of the a
2 Under default tax regime, the income from House 1 &2 shall be ni
3 Under optional tax regime,the income from House 1 shall be nil w
4 Unde the optional tax regime,the income from House 2 shall be (R
 Computation of Income from House property FOR Mr.shetty
Assuming all the properties are let out calculation of house 2
rs Sr. No. Particulars
1 Gross annual value
2 Less: Municipal TAXES
224000 3 Net Annual value
4 Less: Deduction u/s 24
a standard deduction @30% u/s 24 (a)
67200 b Interest on borrowed capital u/s 24 (b)
156800 5 Income from House Property

Sr. no Particulars
1 Fair rent
2 Municipal rent
3 Standard Rent
4 Actual rent Receivable
Less: Unrealized rent
5 Actual rent for GAV
6 GAV

Default tax regime Optional Tax Regime

0 0
0 -₹ 30,000
₹ 1,530 ₹ 1,530
1530 -28470

to be let out as the income is lowest

self-occupied properties

made assuming that all of the above properties are deemed to be let out
me from House 1 &2 shall be nil as they are self occupied .
ome from House 1 shall be nil when self occupied because there is no interst on borrowing
ncome from House 2 shall be (Rs.30,000)because the limit of deduction available when borrowed capital is used for repair or renewals is R
 FOR Mr.shetty Computation of Income from House property FOR Mr.shetty
calculation of house 2 Assuming all the properties are let out calculation of house 3
rs rs Sr. No. Particulars
670000 1 Gross annual value
44800 2 Less: Municipal TAXES
625200 3 Net Annual value
4 Less: Deduction u/s 24
187560 a standard deduction @30% u/s 24 (a)
145000 332560 b Interest on borrowed capital u/s 24 (b)
292640 5 Income from House Property

₹ Sr. no Particulars
675000 1 Fair rent
560000 2 Municipal rent
670000 3 Standard Rent
0 4 Actual rent Receivable
0 Less: Unrealized rent
0 5 Actual rent for GAV
670000 6 GAV

d for repair or renewals is Rs.30,000

tion of house 3
rs rs
575000
37100
537900

161370
375000 536370
1530

₹
580000
530000
575000
0
0
0
575000
Computation of Income from House property for ganesh
Assuming all the properties are let out calculation of house 1
Sr. No. Particulars ₹
1 Gross annual value 350000
2 Less: Municipal TAXES 36000
3 Net Annual value
4 Less: Deduction u/s 24
a standard deduction @30% u/s 24 (a) 94200
b Interest on borrowed capital u/s 24 (b)
5 Income from House Property

Sr. no Particulars ₹
1 Fair rent 375,000
2 Municipal rent 300000
3 Standard Rent 350000
4 Actual rent Receivable 0
Less: Unrealized rent 0
5 Actual rent for GAV 0
6 GAV 350,000

Calculation of House Property Income

Sr.No Particulars
1 Income From House 1 (Self Occupied)
2 Income From House 2 (Self Occupied)
3 Income From House 3 (deemed let out)
Taxable Income From House Property

Conclusion:
1 House 3 is considered as deemed to be let out as the income is low
2 House 1&2 shall be considered as self-occupied properties

MU Notes:
1 The above calculations have been made assuming that all of the a
2 Under default tax regime, the income from House 1 &2 shall be ni
3 Under optional tax regime,the income from House 1 shall be nil w
4 Unde the optional tax regime,the income from House 2 shall be (R
 Computation of Income from House property FOR Mr.shetty
Assuming all the properties are let out calculation of house 2
₹ Sr. No. Particulars
1 Gross annual value
2 Less: Municipal TAXES
314000 3 Net Annual value
4 Less: Deduction u/s 24
a standard deduction @30% u/s 24 (a)
94200 b Interest on borrowed capital u/s 24 (b)
219800 5 Income from House Property

Sr. no Particulars
1 Fair rent
2 Municipal rent
3 Standard Rent
4 Actual rent Receivable
Less: Unrealized rent
5 Actual rent for GAV
6 GAV

MAX ( ACTUAL RENT,MIN(STANDARD RENT,MAX(FAIR RENT,MUNICIPAL RENT)))

Default tax regime Optional Tax Regime

0 0
0 -₹ 30,000
₹ 73,640 ₹ 73,640
73640 43640

to be let out as the income is lowest

self-occupied properties

n made assuming that all of the above properties are deemed to be let out
ome from House 1 &2 shall be nil as they are self occupied .
come from House 1 shall be nil when self occupied because there is no interst on borrowing
income from House 2 shall be (Rs.30,000)because the limit of deduction available when borrowed capital is used for repair or renewals is
FOR Mr.shetty Computation of Income from House property FOR Mr.shetty
calculation of house 2 Assuming all the properties are let out calculation of house 3
rs rs Sr. No. Particulars
360000 1 Gross annual value
28800 2 Less: Municipal TAXES
331200 3 Net Annual value
4 Less: Deduction u/s 24
99360 a standard deduction @30% u/s 24 (a)
55000 154360 b Interest on borrowed capital u/s 24 (b)
176840 5 Income from House Property

₹ Sr. no Particulars
275000 1 Fair rent
360000 2 Municipal rent
370000 3 Standard Rent
0 4 Actual rent Receivable
0 Less: Unrealized rent
0 5 Actual rent for GAV
360000 6 GAV

d for repair or renewals is Rs.30,000

tion of house 3
rs rs
375000
19800
355200

106560
175000 281560
73640

₹
380,000
330,000
375000
0
0
0
375000