Question

Mr. Rupesh owns a big house the construction of which was completed in May 2016. 50%

of the floor area is let out for residential purposes on a monthly rent of Rs. 3200. However this

portion remained vacant for one month during 2017-18. 25% of the floor area is used by the

owner for the purposes of his profession, while the remaining 25% of the floor area is utilized for

the purpose of his residence. Other Particulars of the house are as follows:

1. Municipal Valuation 60,000

2. Standard Rent 90,000

3. Municipal Taxes Paid 12,000

4. Repairs 3,000

5. Interest on Amount Borrowed for Repairs 28,000

6. Ground Rent 4,000

7. Annual charges 6,000

8. Fire Insurance Premium 12,000

Compute the Taxable Income from House Property of Mr. Rupesh for the Assessment year
2018-19​

Answer 1

Answer:

iam not able to understand your question

Answer 2

Answer:

income from house property = 13240

Explanation:

so MV=60000

SR=90000

MT paid by owner= 12000

now,

gross actual value(GAV) = 3200×11

= 35200

because house is let out for only 11 months

then ,

GAV 35200

less: MT paid by owner (12000)

= AV 23200

less: standard deduction 30% of AV (6960)

repairs (3000)

= income from house property 13240

I think this answer is right