Mr. Ganesh has a house property let out for a monthly rent of Rs.9,000. The municipal...
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Mr. Ganesh has a house property let out for a monthly rent of Rs.9,000. The municipal valuation of the house is Rs. 8500, which is the rent payable under Rent Control Act. The fair rental value of the house is Rs. 10,000 per month. The assessee has paid 5% of municipal valuation as local taxes and 5% as education and health cess. The construction of the property started on 1st October 2014 and completed in February 2018. He had borrowed Rs. 5,00,000 @ 10,000 for the construction of the house on which he had paid interest upto 31.03.2017 and Rs. 50,000 interest during the previous year. Fire insurance premium paid for the house is Rs. 2,000. He could not realize one month rent (condition of Rule 4 satisfied). Compute income house property. Mr. Ganesh has a house property let out for a monthly rent of Rs.9,000. The municipal valuation of the house is Rs. 8500, which is the rent payable under Rent Control Act. The fair rental value of the house is Rs. 10,000 per month. The assessee has paid 5% of municipal valuation as local taxes and 5% as education and health cess. The construction of the property started on 1st October 2014 and completed in February 2018. He had borrowed Rs. 5,00,000 @ 10,000 for the construction of the house on which he had paid interest upto 31.03.2017 and Rs. 50,000 interest during the previous year. Fire insurance premium paid for the house is Rs. 2,000. He could not realize one month rent (condition of Rule 4 satisfied). Compute income house property.
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Modeling the Dynamics of Life Calculus and Probability for Life Scientists
ISBN: 978-0840064189
3rd edition
Authors: Frederick R. Adler
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