What is the Annual Lettable Value (ALV) of the property? How is it computed?

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  The income from house property is computed after making certain deductions to the annual value or annual lettable value of the property. The first and most important step is the computation of annual value (AV) or (ALV) of the said property. The ...

• How do I compute the gross annual value (GAV) of the property which is vacant only for some time during the year?

  In this case there can be two scenarios: The amount of actual rent received for a part of the year is less than the Annual Lettable Value (ALV) (expected rent or potential rent) The amount of actual rent received for a part of the year is more than ...

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  In such a case, the GAV of the property shall be the annual expected rent from the property. The annual expected rent of the property shall be computed in following manner, depending on whether or not the property is governed by The Rent Control Act: ...

• What is meant by the annual value of the property?

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• I have received possession of a house in October 2018. Thus I have held the property only for a period of six months. This property was not given on rent and was vacant. I must compute the expected amount of rent that I might have received if the property would have been given on rent. The expected

  No. In case of the property which is considered as deemed let out, the annual value of the property is to be computed for the entire year and not for the part of the year. Therefore, the annual value of the property shall be Rs.120,000/-.