A man pays a total of 4800$ in flat rental for three months.Find the monthly rental rate.
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If you have a house/flat that is either rented out or kept vacant you need to know about income from house property for income tax calculation purposes. This is also important for tax saving if you want to set off the interest you are paying on any home loan taken for the same house against the income from house property.
A person's gross total income chargeable to tax is a sum of income under various heads such as 'income from salary', 'income from other sources' etc.
The monthly rental rate is 1600$
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The monthly rental rate is 1600$
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