18 Nr. Xowned two buildings in Chennai City Details relating to the properties are given below:
Building 1 (used as residence) Annual rental value
Taxes paid
Repairs Actual
Building II Rent collected for 12 months
Taxes paid
Interest paid on Mortgage loan on building
5,000
The Mortgage loan was 50,000 and it was used as follows:
Remedelling Building No. Il for getting a higher rent
25,000
Advanced to Firm XYZ where Mr X is a partner, free
of interest, as temporary accommodation
20.000
Personal use and meeting cost of education of son
5,000
1,45,000
28,000
40,000
48,000
12,000
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18 Nr. Xowned two buildings in Chennai City Details relating to the ... Taxes paid. Repairs ... Building II Rent collected for 12 months. Taxes paid ... of interest, as temporary accommodation
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