What will be the Gross Annual Value (GAV) of a house owned by Ramesh covered by Rent Control Act remained let out during the year 2018-19 of which; (i) Municipal value is ₹3,50,000 (ii) Actual (De Facto) Rent is ₹3,20,00
CS Executive · Tax Laws · PYQS · December 2019
What will be the Gross Annual Value (GAV) of a house owned by Ramesh covered by Rent Control Act remained let out during the year 2018-19 of which; (i) Municipal value is ₹3,50,000 (ii) Actual (De Facto) Rent is ₹3,20,000 (iii) Fair Rent is ₹3,00,000, and (iv) Standard Rent is ₹3,60,000
Answer & Explanation:
Correct Answer: Option (C)
Official answer key: (C).
Topics: Income Tax Act, 1961
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