The Gross Annual Value (GAV) as per section 23(1) of the Act of a house property owned by Suresh covered by Rent Control Act, remained let out during the previous year 2019-20 for which (i) Municipal Valuation is ₹3,00,0
CS Executive · Tax Laws and Practice · PYQS · December 2020
The Gross Annual Value (GAV) as per section 23(1) of the Act of a house property owned by Suresh covered by Rent Control Act, remained let out during the previous year 2019-20 for which (i) Municipal Valuation is ₹3,00,000; (ii) Actual (de facto) Rent is ₹3,20,000; (iii) Fair rent is ₹3,60,000 and (iv) Standard rent is ₹4,00,000 shall be taken at ______.
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income from House Property
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