22 February 2011
Mr. Parampal singh own a house property consisting of 4 equal independent units in CHD. it was completed on 1-11-08 and is used as follows: (a) 25% for his own resident is self occupied. (b) 25% for his own business. (c) 25% is let out for residential purpose @ 1,000 p.m. (d) 255 was let out for non residential purpose @1,000 p.m with effect from 1-04-09 to 28-02-10 and self occupied from 1-03-10 onwards. the other expenses incurred in respect of H.P. are: Municipal Taxes4,000 p.a. fire insurance premium Rs, 1,200 p.a Repairs of house property3,200 p.a Interest on loan for construction of house3,6000 Compute income under the head house property for the assessment year 2010-11
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