NAV=Net Assets Value

 

   
Gross Annual Value XX
Less  
Municipal Taxes XX
Unrealized Rent XX

Net Asset Value

XX

 

Hence from GAV, following two deductions are allowed to arrive at NAV

1.Municipal Taxes paid

2.Unrealized Rent

 

Lets study these in detail

  1. Income Tax
  2. Income From House Property

About the Author

CA Maninder Singh's photo - Expert in Practical Accounts, Taxation and Efiling
CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 10 years. He also provides Accounts Tax GST Training in Delhi and Pune.