Mrs. X has taken a loan on 01.11.2014 @ 10% p.a. of ₹ 10,00,000 for purchase of one house which was purchased on 01.01.2015 and was self occupied and municipal taxes paid in previous year 2018-19 ₹ 30,000. She has repaid the loan amount in annual installments of ₹ 50,000 starting from 01.01.2016. The “Income From House property” for the P.Y 2018-19 will be:
A. ₹ 83,750
B. ₹ 20,000
C. ₹ 78,750
D. ₹ 85,250
Answer:A
Mrs. X has taken a loan on 01.11.2014 @ 10% p.a. of ₹ 10,00,000 for purchase of one house which was purchased on 01.01.2015 and was self occupied and municipal taxes paid in previous year 2018-19 ₹ 30,000. She has repaid the loan amount in annual installments of ₹ 50,000 starting from 01.01.2016. The “Income From House property” for the P.Y 2018-19 will be:
A. ₹ 83,750 B. ₹ 20,000 C. ₹ 78,750 D. ₹ 85,250