Question

10. Mr. Nagaraj has the following house properties:
House No. 1
Occupied for his own residence. Municipal value Rs.10,000; Municipal taxes paid
Rs. 2,000; Fire insurance paid Rs.50; Interest on loan for construction paid Rs.3,500
and due but not paid during the previous year Rs.3,500.
House No.2
Let out for residence. Municipal value Rs.4,000, Actual Rent is Rs.6,000; Municipal
taxes paid Rs.800; Capital charge paid Rs.1,000.
House No. 3 (with two independent equal units)
Municipal value Rs.15,000; Municipal taxes at 20% of municipal value paid by the
tenant; one unit of the property is occupied by Mr. Nagaraj for own profession and
other unit is let out for business on which rent received is Rs.1,200 pm. The house
is constructed on 31.03.2016 on a loan from Dewan Housing Finance Co. Ltd., the
de Incidental charges for raising loan are paid in the current previous year Rs.1,500 and
a total of Rs.4,200 was paid as interest on loan prior to the previous Year of
completion of construction and interest for the current previous year paid Rs.3,900.
Other expenses were:
Fire insurance Rs.300, ground rent Rs.1,200, collection charges Rs.300 and repairs
expenses Rs.1,000. Mr.Nagaraj recovered R$6,000 unrealized rent for the year
2017-18 in respect of let-out unit of third house from a previous tenant. The
amount was allowed as deduction in the earlier previous year.
Compute his income from house property for the AY 2020-21.
(KSWU B.Com Y Sem 2014)​

Answer 1

Answer:

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