An Assessee constructed a building with one floor some 8 months back . the ground floor is let out on rent and the income so collected from that portion (ground floor) is 36000/- per annum . At the end of the year the assessee wants to know the income from these house property
Following info is available :
Rent received from ground floor : 36000/-
Corporation Tax : 2313/-
Water & sewage Tax : 14714/-
the assessee took a loan for the construction of the house 3 yrs ago . The assessee paid to the bank in the previous year:
Interest during the year : 78048/-
Principal amount : 28849/-
wat will be the income from the house property after deducting all taxes and the interest paid during the year???????????????.....
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