Mr. X purchased a house property valued at ₹ 42 lakhs as on 1.4.2020. The house was let out at ₹ 25,000 per month throughout the P.Y. Compute income from house property for A.Y.2021 -22 if Mr. X paid Municipal taxes 18,000 and spent 6,000 on minor repairs.
A. ₹ 2,82,000
B. ₹ 2,76,000
C. ₹ 3,00,000
D. ₹ 1,97,400
Answer:D
Mr. X purchased a house property valued at ₹ 42 lakhs as on 1.4.2020. The house was let out at ₹ 25,000 per month throughout the P.Y. Compute income from house property for A.Y.2021 -22 if Mr. X paid Municipal taxes 18,000 and spent 6,000 on minor repairs.
A. ₹ 2,82,000 B. ₹ 2,76,000 C. ₹ 3,00,000 D. ₹ 1,97,400