Accountancy, asked by kumarideepika1998, 5 months ago

Mr. Pawan (a resident Individual, age 68 years) owns three houses which are used by him for

his residential purposes. From the following information, suggest which house should be

opted as self-occupied and accordingly determine the taxable income of Mr. Pawan for AY

2020-21.

Houses A B C

Municipal value 3,80,000 5,00,000 6,50,000

Fair Rent 3,88,000 5,00,000 6,30,000

Standard Rent 4,00,000 5,00,000 6,00,000

Municipal taxes paid by him 10% 10% 10%

Repairs and Insurance premium 16,000 35,000 80,000

Interest on

Borrowed

capital.

Capital was

borrowed for

construction

of the

properties.

Construction

was

completed

within

stipulated

time.

Date of borrowing 20.08.2017 10.02.1999 15.10.2015

Current year’s

interest

85,000 1,00,000 1,36,000

Pre construction

period interest

instalment for year

2019-20 (20% of the

total PCP interest)

28,000 10,000 78,000

He receives a Tagore Painting on his birthday from a family friend. Fair market value of the

painting is Rs. 5,90,000. No other gift is received during the PY 2019-20.

Donation made through account payee cheque to Prime Minister National Relief fund: Rs. 25,000

Interest on loan for higher education of his daughter: Rs. 25,000.​

Answers

Answered by subash123456
0

Answer:

Bro what bro

Where is the question bro

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