What is the meaning of municipal value of a building for tax valuation under head income from house property?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 sowmya asked over 3 years ago

What is the meaning of municipal value of a building for tax valuation under head income from house property?

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 lochan answered over 3 years ago

**MEANING OF MUNICIPAL VALUE** When the local authorities determine the value of property by making survey of all the other properties in their jurisdiction. This valuation is municipal value which helps in charging municipal tax. This is the value which is assigned by local authorities to the property This is done for assessment for tax Thanks :)

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