Please try to solve my problem as i am facing problem in question
Mr A is the owner of a house in Mumbai completely let out for resdential purposes, consisting of two flats of different sizes.They are let out at Rs5000 pm and and Rs7000 pm respectively Municipal value of house is Rs 96,000
The rate of municipal tax is @ 15%p.a. the other particulars of house is as under:
(a) The house is newly constructed, the construction is completed on 1 april 2007
(b)Interest on loan of Rs1,00,000 taken on 1.04.2004 @ 10% pa to construct a house is Rs10,000 for the year. Interest of preceeding years three year is also paid but not claimed as deduction.
(c)The second flat is vacant for 3 month during the year
(d)Collection charges claimed by him were Rs700 but actual expenses were Rs500 for the year.
compute his income from house property for Assesment year 2012-13
CAclubindia
