For property A completed on July 1, 2018: The annual rental value is Rs. 60,000 but actual rent received was Rs. 72,000. The owner paid house tax of Rs. 6,000 and sanitation cess of Rs. 1,000.
For property B completed on June 1, 2019: The monthly rent was Rs. 4,000 totaling Rs. 40,000 for the year. The annual rental value is Rs. 36,000. Municipal tax is 10% of the annual rental value but the owner paid 50% of the tax during the previous year ending March 31, 2020.
For property A completed on July 1, 2018: The annual rental value is Rs. 60,000 but actual rent received was Rs. 72,000. The owner paid house tax of Rs. 6,000 and sanitation cess of Rs. 1,000.
For property B completed on June 1, 2019: The monthly rent was Rs. 4,000 totaling Rs. 40,000 for the year. The annual rental value is Rs. 36,000. Municipal tax is 10% of the annual rental value but the owner paid 50% of the tax during the previous year ending March 31, 2020.
For property A completed on July 1, 2018: The annual rental value is Rs. 60,000 but actual rent received was Rs. 72,000. The owner paid house tax of Rs. 6,000 and sanitation cess of Rs. 1,000.
For property B completed on June 1, 2019: The monthly rent was Rs. 4,000 totaling Rs. 40,000 for the year. The annual rental value is Rs. 36,000. Municipal tax is 10% of the annual rental value but the owner paid 50% of the tax during the previous year ending March 31, 2020.
From the following particulars given below, calculate Net annual value
for the previous year ending on 31-3-2020
A MRV(date of completion (1-7-2018) Rs 60,000 p.a, Actual rent received Rs 72000p.a., House tax paid by owner Rs 6000 p.a, Sanitation cess Rs 1000 p.a, B) Date of Completion 1-6-2019 Rent received @ Rs 4000 p.m., is Rs 40,000, MRV Rs 36000 p.a., Municipal Tax @ 10% of MRV, He paid 50% of tax during the PY 2019-20
Computation of NAV for PY 2019-20 for Case A Amount Amount
Computation of NAV for PY 2019-20 for Case B Amount Amount