Renting of Furniture, Plant and Machinery

Hii guys

I m a salaried Employee. In Aug 2020 I purchased 70k worth of Furniture (household sofas, tables, chairs etc) and I started renting it to a family for 2k per month from Dec 2020. And I spent 12k for some repairs of that furniture in Feb 2020

Now Since it is not my main line of business, I understand that I can offer that income under Income from other sources. Plse confirm whether my contention is correct..?

And further I read that as per Sec 57, I can claim the expenses which I incurred to earn that furniture rental income. Now how much expenses can I claim..

1. Full 70k + 12k repairs (or)
2. 10% Depreciation on 70k + 12k repairs (or)
3. Nothing at all

If yes and if I can go with option 2, I will get loss of 11k i.e {(7k - 10% of 70k + 12k) minus 8k (2k x 4 months)}.

Is that ok...?