Question

Sri Ramesh is the owner of two houses. He has furnished the following particulars for the Financial Year 2018-19 :
First House-Its municipal valuation is * 40,000. It is used by Ramesh for his own residence. He paid * 200
Fire Insurance Premium and 4,000 Municipal Tax. He also paid interest on the loan 20,000. This loan was taken
to repay another loan taken for the construction of this house.
Second House-Its municipal valuation is 24,000 and Standard Rent * 30,000 (Rent Control Act applicable).
It has been let out at * 3,000 per month. He made the following payments :
Municipal Tax
6,000
Repairs
1,000
Land Revenue
200
Legal expenses incurrd to get the house vacated
500
Annual Charge
3,000
This house remained vacant for 2 months. * 9,000 could not be recovered from the defaulting tenant. The
tenant has vacated the house. The conditions of Rule 4 are satisfied.
Compute his taxable income from house property for the Assessment. Year 2018 20​

Answer 1

Answer:

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