Which one of the following is the Net Annual Value (NAV) of house for the given details?
Municipal value = Rs. 5,00,000
Fair Rental value = Rs. 6,00,000
Standard Rent = Rs. 7,00,000
Actual Rent (Annual Rent) = Rs. 5,40,000
Municipal Tax = Rs. 15,000 (due but not paid)
1
Rs. 5,00,000
2
Rs. 6,00,000
3
Rs. 5,40,000
4
Rs. 4,80,000