Gross rent determination requires higher of contractual or presumed value; unlet properties treated as nil with limited exception.

Gross rent is the higher of contractual rent and presumptive rent; contractual rent is that receivable under any contract while presumptive rent equals six per cent. of the local authority ratable value or, if none, the cost of construction or acquisition. Gross rent is nil for unlet houses except where the house is let during the year or any other benefit is derived, and the nil treatment may be applied to only one house owned by a person, as specified by the owner.

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