Gross Annual Value

For the purpose of calculating the taxable amount of house rent, we have to first derive the gross annual value of the property. Gross Annual value will be derived as follows; Derive the expected rent for your house property To derive the expected rent of your house property you need to follow the following steps; Calculate the Municipal and Fair Value of the … [Read more...] about Gross Annual Value of your House Property – Income Chargeable Under the head income from house property