Hi, This query is regarding the income from house property. A husband and wife taken a loan to construct an
apartment with 10 flats and rent them out. In the Fin. year 2010-11 they have received 4.51 lacs as rent. They have paid 11474 as municipal tax. and paid455333/- towards loan inclusive of interest of41144. Though loan is taken by the couple, the aprtment is in the name of wife. Pls tel me how much will be income tax to be piad for Asst Year 2011-12 by wife.
Regds
ashraf