Q.2. Ms. Shreya, 33 years old, a non-resident, owns a house in India which is let out wef 1st October 2018. The construction of the house was completed on 1st Sept. 2018. The house is let out on a monthly rent of Rs. 75,000. Rent of two months could not be realized. Other details of the house are as follows: Municipal valuation - Rs. 50,000 pm Municipal taxes due for 2018-19 - Rs. 50,000 out of which taxes paid during the year are Rs. 30,000. Out of this Rs. 30,000, Rs. 20,000 is paid by the owner and Rs. 10,000 is paid by the tenant during the previous year 2018-19. Ms. Shreya took a loan of Rs. 15,00,000 from HDFC Bank on 1st September 2013 @ 12.5% per annum for construction of this house. Rs. 2,00,000 was repaid on 31st March 2016. Remaining amount is unpaid so far. Compute net income and tax liability of Ms. Shreya for the assessment year 2019-20. She spends Rs. 30,000 on medical treatment of her dependant brother who is suffering from a disease specified in the rules made by the Board and claims a deduction for the same under relevant section. Her income from other sources is Rs. 5,70,000 and a loss of Rs. 50,000 (short term) from Capital Gains head
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