Municipal tax paid by Mr. X 12% of the Municipal Valuation. Light and water charges ₹ 800 p.m. Interest on borrowed capital ₹ 2,000 p.m. Insurance charges ₹ 3,500 p.a. Painting expenses X 16,000 p.a. Compute the Income of Mr. X for the A.Y. 2020-21
A. ₹ 2,78,652
B. ₹ 2,78,600
C. 2,76,650
D. 2,76,700
Answer:A
Municipal tax paid by Mr. X 12% of the Municipal Valuation. Light and water charges ₹ 800 p.m. Interest on borrowed capital ₹ 2,000 p.m. Insurance charges ₹ 3,500 p.a. Painting expenses X 16,000 p.a. Compute the Income of Mr. X for the A.Y. 2020-21
A. ₹ 2,78,652 B. ₹ 2,78,600 C. 2,76,650 D. 2,76,700