The particulars of a residential house completed on 31st May 2014 are given below:
M
800 pm
Rent
Municipal taxes paid
1,800
Ground rent
50
Insurance
80
Interest on amount borrowed for construction of this house
1,000
Collection charges actually paid
300
The assessee mortgaged the house for 36,000 to meet the expenses of his daughter's marriage and paid
an interest of 3,000 on the mortgage loan during the year. The assessee also claimed that he had not
realised rents from his tenants to the extent of 2,000 and he proved his claim to the entire satisfaction of
the assessing officer that the conditions for its admissibility were satisfied.
Compute the total income under the head House Property.
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