SOLUTION TO Mr. Surya PROBLEM ON H.P 1. M.V or F.R (higher) is F.R Here , M.V is 72,000 given and F.R ,S.R is not given .There fore Fair rent must be calculated by using the rent given i.e 10,000*12=1,20,000 72,000 or 1,20,000 which ever is higher is F.R There fore F.R(1)= 1,20,000 2. F.R(as per 1) or Standard Rent (lower) is Expected Rent since Standard Rent is not given F.R= E.R =1,20,000 3. (Actual Rent Receivable) less (Unrealised rent) is Actual Rent AR=10,000*8=80,000 4. E.R(2) or A.R(3) (higher) Higher is E.R so G.A.V = E.R = 1,20,000 Less:- Municipal tax paid= (6000) N.A.V=1,14,000 Less:- 30% ded as per sec24(a)=(34,200) IFHP = 79,800 CLARIFICATION:- IN THIS QUESTION M.V given is 72,000 . and not 72,000 *P.A* So, 72,000 full amount to be considered. AIM OF THIS PROBLEM:--- 1. When M.V is given and nothing related to F.R or S.R is given ,,,,,,then F.R must be calculated by using Rent amount given in problem ( Rent * 12 mnths ) and THEN only it must be compared in STEP (1) 2. M.V,F.R,S.R given in the problem must adjusted to proportionate months for which the assesse actually possessed the house (Example):- The assesse actually completed construction of h.p and took possession on 01.07.2012 . He used the flat for 7 months during the year ended 31.03.2013.Now if M.V given is 4,20,000 p.a so here M.V to be considered is 420000*9/12=315000 RULE mentioned above is valid only if ** PER ANNUM ** is mentioned after amounts given. If per annum is given then apportionate for respectively otherwise consider the whole amount. **Surya Maneesh
Posted on: Fri, 16 Aug 2013 08:28:17 +0000
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