Menu
Quaries : computation of income from let out house property
X owns house in MUMBAI,which is let out . frm the following particulars compute his income from house property for A.Y.-2013-14.
construction completed on 30.11.97
how used - tenant's residence
GMV(municipal tax is assessed at 10%)-24000
rent recived-26400
cost of amenities paid by X-
electricity charges-2400
Charges for water supply-1700
Repairs(borne by tenant)-2000
he along with his family resides in a rented house in KOLKATA for the purpose of his employement paying a monthly rent of Rs.2200.
plz anyone reply.
Replies (4)
| Annual Rent Recd. 26400*12 | |
| (Higher of Muncipal value & Actual Rent recd.) | 316800.00 |
| Less: Muncipal Tax 10% PAID during the year | 31680.00 |
| Net Annual Value | 285120.00 |
| Less: Deduction u/s 24(1)(a) | |
| 30% of NAV | 85536.00 |
| Income from Hosue property | 199584.00 |
- claim deduction u/s 80GG for Rent paid. if assesse is not entitle to any HRA or rent Free Accommodation.
Thanks for reply sir but in book answer is given as Rs. 15288...
Whether Rent recd. monthly or annually? because i consider it Monthly.
ok sir.....and again thanks ....
Recent Threads
- Capital Gain and Basic Exemption Limit
- Loan to wife and interest income husband income or
- AOC-4 is not being filed
- Returning the shares gifted by daughter?
- Gst tax rate
- Accounting of Govt Grant in aid-Assam Tea Estate
- Utilizing Capital gains in new home construction
- Hi i have some doubt about my microsoft exam?
- Period of holding of residential flat and its acqu
- ITRs for AY 2025-26 filed in September 2025 not pr
Related Threads
CAclubindia
