Definition of ‘Annual Value’ | Section 2(2) of Income Tax

Meaning/ Definition of ‘Annual Value’ | Section 2(2) of Income Tax

As per Section 2(2) of the Income Tax Act, 1961, unless the context otherwise requires, the term “Annual Value” has the following Meaning/ Definition:

Section 2(2) of the Income Tax Act, 1961

“Annual Value”, in relation to any property, means its annual value as determined under section 23;

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