Scope of gross rent

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..... le by the assessee under a contract, whether in writing or otherwise. (3) The presumptive rent referred to in sub-section (1) shall be six per cent. of - (a) the ratable value fixed by any local authority in respect of the property; or (b) the cost of construction or acquisition of the property if no such value has been fixed by the local authority. (4) The gross rent shall, regardless of anything .....

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