Accounts Tax GST

This question was asked in Co-owned Property

Tanvir Khan

Feb. 14, 2017, 2:58 p.m.

Answers!

Maninder Singh

Feb. 14, 2017, 7:44 p.m.


Rent of Property	8000
Municipal Valuation	80000
Municipal Taxes 30%	24000

Interest	42000


Fair Rent	80000
Actual Rent	72000
GAV	72000
Less
Municpal Taxes	120000

NAV	-48000
Standard Deduction 30%	0
Interest on Purchase of House	42000
Income from House Property	-90000

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