Vinesh owned house at Delhi which was occupied by him for the purpose of his residence. He was transferred to Chandigarh in June 2020 and thereafter he let out the property with effect from 1.7.2020 on monthly rent of 18,000. Corporation tax was ₹ 12,000 out of which he paid 50% before 31.3.2021. Interest on money borrowed is ₹ 40,000. What is the income of Vinesh from house property
A. Income ₹ 1,05,000
B. Loss ₹ 1,05,000
C. Income ₹ 1,07,000
D. Loss ₹ 1,07,000
Answer:C
Vinesh owned house at Delhi which was occupied by him for the purpose of his residence. He was transferred to Chandigarh in June 2020 and thereafter he let out the property with effect from 1.7.2020 on monthly rent of 18,000. Corporation tax was ₹ 12,000 out of which he paid 50% before 31.3.2021. Interest on money borrowed is ₹ 40,000. What is the income of Vinesh from house property
A. Income ₹ 1,05,000 B. Loss ₹ 1,05,000 C. Income ₹ 1,07,000 D. Loss ₹ 1,07,000