POSTED BY February 18, 2012 2:50 pm ONE COMMENTON
Dear All, we know the following formula for calculating the Annual Value of a house property.
and Maximum of following four things is Annual Value.
1. Rent payable by the tenant (actual rent)
2. Municipal valuation of the property.
3. Fair rental value (market value of a similar property in the same area).
4. Standard rent payable under the Rent Control Act.
Question is: How do we calculate or get the information about point no. 2, 3, and 4 above.
I mean if i know the Tax paid to Municipal corporation, will i come to know the valuation ? and what about points 3 and 4 then ?