Satish aged 45 years is having a house property at Hyderabad. The municipal valuation is ₹12,50,000 and fair rent of the property is ₹11,00,000. The standard rent is ₹11,50,000. He let out the property for a rent of ₹1,0
CS Executive · Tax Laws · PYQS · June 2022
Satish aged 45 years is having a house property at Hyderabad. The municipal valuation is ₹12,50,000 and fair rent of the property is ₹11,00,000. The standard rent is ₹11,50,000. He let out the property for a rent of ₹1,05,000 per month during the financial year 2021-22. Rent of March could not be realised despite all efforts, as the tenant have vacated the property. All the conditions for unrealised rent were satisfied. He had paid the municipal taxes of ₹2,30,000. He has paid an interest of ₹2,50,000 during the year for the amount borrowed for construction of the property. Compute the income from house property for Assessment Year 2022-23 ? (Assessee has not opted for section 115BAC) :
Answer & Explanation:
Correct Answer: Option (A)
Official answer key: (A).
Topics: Income Tax Act, 1961
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