Mr.Abhishek owns a house at the kanpur,municipal value of which is rs.30000 and fair rent rs.35000 per annum. During the previous year the house is used by him for his own residence from 1st April 2018 to 30th June 2018 and is let out 3000 p.m. from 1st July 2018 for residential purpose. The house owner incurred the following expense during the previous year. Municipal Tax Rs. 4500, Repair Rs.6000 Fire insurance premium Rs.4000 Land Revenue Rs.4500 and ground rent Rs.3000. He took a loan of Rs.40000 @ 18% interest per annum for the construction is completed on 31st March 2016. No amount has been paid so far. Compute Taxable income from house property forv the Assessment year 2019-20.
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