Question

Mr. Roy is the owner of 3 houses. Following are the particulars of these houses for the

P.Y .2019-20 :

House House House

No - 1 No – 2 No – 3

Used for Owner’s Tenant’s Tenant’s

Residence Business Residence

Rs. Rs. Rs.

Municipal Value 24,000 30,000 20,000

Rent received __ 36,000 24,000

Municipal tax paid by owner 2,400 3,000 2,000

Repair Charges paid by owner 2,000 4,000 3,000

Insurance Premium Paid 250 300 200

Interest for loan taken -

(i) For construction of the house __ 3,000 __

(ii) for relative’s marriage __ __ 1,500

Compute income from house property of Mr. Roy for the assessment year 2020-21​

Answer 1

Explanation:

Residential Status. 1 - 5. 2. Salary. 6 – 20. 3. House Property ... out of which Rs. 20,000 deposited in a bank in Iraq and the ... The fair rent value of this house property is Rs.

Answer 2

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