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Mr. Hassan has rented out a house at a monthly rent of Rs. 20,000. During the year incurred following expenses in respect of the house:
Mr. Hassan has rented out a house at a monthly rent of Rs. 20,000. During the year incurred following expenses in respect of the house:
Repair of house Rs. 15,000
Insurance premium 10,000
Property tax Rs. 6,000
Interest on loan from HBFC Rs. 12,000
Legal expenses Rs. 2,000
Required:Compute the amount that is chargeable to tax under the head "Income from Property"
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