Question

House II X (age : 63 years) owns two houses. Relevant details are given below - House I Let out April 1, 2020 to June 30, 2020 (rent being Rs. 6,000 per month) Self-occupied July 1, 2020 to March 31, 2021 Rs. Municipal daluation per annum (MV) 60,000 Fair rent per annum (FR) 70,000 Standard rent per annum (SR) 66,000 Rent of let out period 18,000 Interest on borrowed capital 2,000 Municipal tax paid 10,000 July 1, 2020 to March 31, 2021 (rent being Rs. 13,000 per month) April 1, 2020 to June 30, 2021 Rs. 1,00,000 95,000 1,10,000 1,17,000 40,000 17,000 Assuming that income of X from business is Rs. 12,80,000 (he does not have any other income) and he deposits Rs. 1,50,000 in public provident fund, find out his net income and tax liability for the assessment year 2021-22. Ignore section 115BAC.​

Answer 1

Answer:

Explanation:

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