Mr. Shree owns one residential house in Mumbai. The house is having two identical units. First unit of the house is self-occupied by Mr. Shree and another unit is rented for Rs.8,000 p.m. The rented unit was vacant for 2 months during the year. The particulars of the house for the previous year 2021-22 are as under:

Standard Rent Rs.1,62,000 p.a. Municipal Valuation Rs.1,90,000 p.a. Fair Rent Rs. 1,85,000 p.a. Municipal Tax (paid by Mr. Shree) 15% of municipal valuation Light and water charges Rs.500 p.m.

Interest on borrowed capital Rs.1,500 p.m. Lease money Rs.1,200 p.a. Insurance Charges Rs.3,000 p.a Repairs Rs.12,000 p.a Compute Income from house property of Mr. Shree for the A.Y.2022-23.