2. Om Prakash is the owner of a big house and employed in a school at Allahabad on a
salary of 24.000 pm Municipal valuation of his house is ? 20.000. He has let out 13
of the house on a monthly rent af 1.400 and occupies remaining 23 portion or
residence. He paid 1.200 municipal taxes in respect of the whole house He paid
the insurance of the house. The house is constructed on lensed land. He paid 500
He had constructed the bouse with the borrowed money oft 2,00,000 which was
after April 1. 1999 @ 8% pa interest.
Compute his Tutal Income for the Assessment Year 2020-21.
Ans. 2.38.480
Answers
OMG!!!!!!
Explanation:
HOW MUCH BIG QUESTION IS THIS
Answer:
Computation of Total Income
( for the Assessment Year 2020-21)
Salary :. 144000
less: Deduction nil
Income from Honse Property: 144000
(let out ) Gross Annual Value :. 16800
Municipal tax 1/3 - 400
Annual value:. 16400
30% of A.V. - 4.920
Interest 1/3 of 16,000. - 5,333
TOTal. -5453
(self occupied) 2/3 portion
less : Interest 2/3 of 16000. -10,667.
(Max allowed ₹ 200000)
income from House Property 1,39,48