English, asked by arunkumarsahni2004, 1 month ago

04X (66 Years), a non-resident owns a house in India which is let out w.e.f. 1-10-

2019. The construction of the house was completed on 1-9-2019. The house is let out at a monthly rent of Rs.50, 000.Rent of one month could not be realized. Other details of the house are as follows.

Municipal valuation: Rs.40, 000 p.m.

Municipal taxes due for 2019-20: Rs. 40, 000 out of which taxes paid during the

year are Rs.30, 000. Out of this Rs.30, 000 Rs 20, 000 is paid by the owner and Rs.10, 000 is paid by the tenant during the previous year 2019-20.

X took a loan of Rs.10, 00,000 from SBI on 1-9-2014 @ 12% p.a. for construction of this house. Rs.2, 00,000 was repaid on 31-3-2017, Remaining amount is

unpaid so far.

Compute net income and tax liability of X for the assessment year 2020-21. He spends Rs.30, 000 on medical treatment of his dependent brother who is suffering from a disease specified in the rules made by the board and a claims a deduction for the same under section 80DDB.His income from other sources is

Rs 4, 74,000.


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Answers

Answered by vk8091624
0

Answer:

2019. The construction of the house was completed on 1-9-2019. The house is

let out at a monthly rent of Rs.50, 000.Rent of one month could not be realized.

Other details of the house are as follows.

Municipal valuation: Rs.40, 000 p.m.

Municipal taxes due for 2019-20: Rs.40, 000 out of which taxes paid during the

year are Rs.30, 000. Out of this Rs.30, 000 Rs.20, 000 is paid by the owner and

Rs.10, 000 is paid by the tenant during the previous year 2019-20.

X took a loan of Rs.10, 00,000 from SBI on 1-9-2014 @ 12% p.a. for construction

of this house. Rs.2, 00,000 was repaid on 31-3-2017. Remaining amount is

unpaid so far.

Compute net income and tax liability of X for the assessment year 2020-21. He

spends Rs.30, 000 on medical treatment of his dependent brother who is

suffering from a disease specified in the rules made by the board and a claims a

deduction for the same under section 80DDB.His income from other sources is

Rs.4, 74,000.

Answered by vijaysingrajput7
0

Answer:

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