How to compute gross annual value of a property which is let-out throughout the year?

Ans. Gross annual value of a property which is let-out throughout the year is determined in the following manner :

Step 1: Compute reasonable expected rent of the property (for details refer to FAQ on computation of reasonable expected rent).

Step 2: Compute actual rent of the property (for details refer to FAQ on computation of actual rent).

Step 3: Compute gross annual value (Gross annual value will be higher of amount computed at step 1 or step 2).