Gross Annual Value

Tax Glossary Definition

Gross Annual Value

The Gross Annual Value represents the highest among the current market value, the actual rent (whether received or receivable), or the fair rental value of a property. This value reflects what the property could command on the open market under ideal conditions, devoid of either an oversupply or shortage of accommodation.

Example 1: Calculating GAV

Scenario:
Mr. Kumar owns a house and has the following details:

Parameter	Amount (₹)
Actual Rent Received	1,00,000
Fair Rent (as per market)	1,20,000
Municipal Value / Standard Value	1,10,000

GAV Calculation:

GAV = Highest of Actual Rent, Fair Rent, Municipal Value
GAV = ₹1,20,000 (Fair Rent)

India's Most Trusted
Pro Tax Filer

Discover why we're one of India's most trusted Pro Tax Filers, built on a foundation of accuracy and reliability.

We ensure maximum tax benefits.
Taxes? Handled by our CAs and experts.
Reliable, year-round tax support at no cost.
Satisfaction or your money back came twice.

Start Filing

Scan the QR code to Download the app

Mobile App Available on:

DOWNLOAD For IPHONE

TaxFilr App

DOWNLOAD For Android

TaxFilr App

Have Questions? Let’s Talk!