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Scope of gross rent

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Full Text of the Document

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....nt receivable 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 b....