Problem-2 (Marks:10) Mr. Singha is the owner of a three-storied building at Mohakhali. Mr. Singha resides with his family in the 2nd floor and all other floors (in each floor there are two flats) are let out at a monthly rent of Tk. 8,700 per flat . The municipal value of the house is Tk. 660,000. The following expenses were incurred in the income year 2016 - 2017 for that house: (a) Repair expenses Tk. 60,000; (b) City Corporation Tax Tk. 18,000; (c) Insurance premium Tk. 15,000; (d) Caretaker and Night guard salary Tk. 24,000; (e) Land revenue paid Tk. 9,000; (f) Mortgage interest paid Tk. 6,000; (g) Interest paid to HBFC Tk. 4,500; (h) Interest during the construction period Tk. 33,000; (i) Alteration cost for ground floor Tk. 60,000. During the year one of the tenants in the ground floor leave the house without paying rent for one month. Mr. Singha even after taking legal action fails to collect this rent. Besides that, the same flat was vacant for two months during the year. Compute income from house property for the income year ended 30 June 2017