Question

Mr. V is the owner of 2 houses in Kolkata. From the following particulars compute income

from house property for the assessment year 2020-21: (15 marks)

House at Chetla: Let-out to an employee of his business @ Rs. 4,200 p.m. which is

necessary for the business. Municipal tax paid Rs. 3,250 and interest on loan taken for

purchase of the house Rs.1,89,000.

House at Kasba: The house consists of 3 identical flats. First and second flats are used by

him for his own residence. The third flat is let out at a monthly rent of Rs. 15,000. Municipal

taxes paid @ 5% amounted to Rs.20,250. Unrealised rent for the year 2018-19 relating to

the third flat of house in Kasba amounted to Rs. 12,000 was received in the current year.

A loan of Rs. 20,00,000 was taken on 01.07.2017 for the construction of House in Kasba.

Construction of the house was completed on 01.06.2018. Interest on Loan @ 8% p.a. No

principal amount repaid till date.​

Answer 1

Answer:

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