Mr. Salim has a house property, 2/3 portion of the house is self occupied 1/3 portion...
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Mr. Salim has a house property, 2/3 portion of the house is self occupied 1/3 portion is let out for Rs.10,000 per month. The let out portion remain vacant for three months. Further, the tenant did not pay one month rent, but he is still residing in the house. Municipal tax Rs. 3000 was paid during the year which is 1% of municipal valuation. Interest on loan taken in 2013 for construction of the house, Rs. 1,20,000 was due but not paid till 31.03.2020. Determine the income from house property for the previous year 2019.20 Mr. Salim has a house property, 2/3 portion of the house is self occupied 1/3 portion is let out for Rs.10,000 per month. The let out portion remain vacant for three months. Further, the tenant did not pay one month rent, but he is still residing in the house. Municipal tax Rs. 3000 was paid during the year which is 1% of municipal valuation. Interest on loan taken in 2013 for construction of the house, Rs. 1,20,000 was due but not paid till 31.03.2020. Determine the income from house property for the previous year 2019.20
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Taxes And Business Strategy A Planning Approach
ISBN: 9780132752671
5th Edition
Authors: Myron Scholes, Mark Wolfson, Merle Erickson, Michelle Hanlon
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