Suresh owns two house properties. First property was used half for running his business and the other half was let-out at ₹ 4,000 p.m. the second property was wholly used as a residence by Suresh. Municipal values of the two properties were the same at 72,000 each p.a. and local taxes@ 10%. Suresh’s income from house property for the PY 2020-21 will be:
A. ₹ 33,600
B. ₹ 31,080
C. ₹ 28,560
D. ₹ 62,160
Answer:B
Suresh owns two house properties. First property was used half for running his business and the other half was let-out at ₹ 4,000 p.m. the second property was wholly used as a residence by Suresh. Municipal values of the two properties were the same at 72,000 each p.a. and local taxes@ 10%. Suresh’s income from house property for the PY 2020-21 will be:
A. ₹ 33,600 B. ₹ 31,080 C. ₹ 28,560 D. ₹ 62,160