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<h1>Annual value determination simplified: bill streamlines rent-based criteria, expands deductions and vacancy rules to ease compliance.</h1> Determination of the annual value is streamlined to a two criterion test-expected rent and actual rent-while vacancy is addressed in a separate subsection, local authority taxes and specified service taxes are consolidated as deductible items, stock in trade nil value relief is extended, and self occupied property rules retain a two house concession with clearer conditions.
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