Question

US
I
of interest,
Personal use and meeting cost Ul
You are requested to work out the income front
Year 2020-21.
20
Building II is admissible.
for remaining part of the
6.16
Ans. Taxable Income from House Property 15,000.
Find out his taxable income from house property for the Assessment Year 2020-21.
Hint: Interest on loan for the Previous Year 2019-20 will be on 7 40,000 i.e., * 4,000.
Ans. Bldg. I Nil; Bldg. II ? 22,700; Income from H.P. 22,700. Only one-hall
16. Mr. Ram Nath owns a house at Kanpur (Municipal value 30,000) of the fair rent of 36,000
p.a. During the Previous Year 2019-20 the house is let out for residential purposes on a monthly
rent of 7 4,000 from 1st April, 2019 to 30th June, 2019 and self-occupied for residential
Municipal taxes * 6,000 and Collection Charges 600 were paid during the year. A loan of
completed on 1st January, 2017, 10,000 was paid towards the loan account on 1st April, 2016.
50,000 was taken on 1st April, 2014 @ 10% p.a. for the construction of the house which was​

Answer 1

Answer:

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