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