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Compute the income from house property for the assessment

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Problem 1: Mr. Ashok is the owner of a house property in Kolkata which was occupied by him for his own residence. He was transferred to Mumbai in June 2019 and therefore he let out the house with effect from 1st July 2019 on a monthly rent of Rs. 13,500. The corporation tax is Rs. 6,000 for the house. 50% of the corporation tax was paid by him on 14th April 2019. Interest on money borrowed for the construction of the house amounts to Rs. 75,000. Compute the income from house property for the Assessment Year 2020-2021.

Reference no: EM132668746

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