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    Ayush Kesri
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    The document discusses the computation of the annual value of a house under Section 23(1) of the Property Act. The annual value is defined as the sum for which the property might reasonably be expected to be let from year to year, and is neither the actual rent received nor the municipal valuation of the property. In determining annual value, four factors are considered: the actual rent received, municipal value, fair rent of the property, and standard rent.

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    The document discusses the computation of the annual value of a house under Section 23(1) of the Property Act. The annual value is defined as the sum for which the property might reasonably be expected to be let from year to year, and is neither the actual rent received nor the municipal valuation of the property. In determining annual value, four factors are considered: the actual rent received, municipal value, fair rent of the property, and standard rent.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    14 views1 page

    Computation of

    Uploaded by

    Ayush Kesri
    The document discusses the computation of the annual value of a house under Section 23(1) of the Property Act. The annual value is defined as the sum for which the property might reasonably be expected to be let from year to year, and is neither the actual rent received nor the municipal valuation of the property. In determining annual value, four factors are considered: the actual rent received, municipal value, fair rent of the property, and standard rent.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 1

    Computation of 'Annual Value' of a Houes

    Property [Section 23(1)]


    As per section 23(1)(a) the Annual Value of any property shall be the sum for
    which the property might reasonably be expected to be let from year to year. It
    may neither be the actual rent derived nor the municipal valuation of the
    property. It is something like notional rent which could have been derived, had
    the property been let. In determining the annual value there are 4 factors which
    are normally taken into consideration. These are:

    i. Actual Rent Received or Receivable


    ii. Municipal Value
    iii. Fair Rent of the Property
    iv. Standard Rent

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