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

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CA Maninder Singh
CA Maninder Singh is a Chartered Accountant for the past 8 years. He provides GST Training in Delhi. Register now.