Q.2 Total Time: 00:30 Min Sh. H. Mukherjee constructed a building on 30th June, 2011. It had two flats of equal dimensions. One flat was let out to a tenant for residential purpose on a monthly rent of Rs 1000 and other flat was let out to a friend for residential purposes on a monthly rent of Rs 1,000. Sri Mukherjee paid the following expenses during the year ended 31st March Municipal taxes @ 10% on municipal value of Rs 20,000 Fire Insurance Premium @ 2% of Municipal value. Rent Collection charges in case of Ist flat Rs 600. Repairs and alterations Rs 1,000 Interior decoration charges Rs 2.000. Legal Charges for recovery of rent in case of Ist flat Rs 1,000. Interest on loan taken for renovation of 2nd flat Rs 4,200. Conservancy tax in addition to Municipal Tax Rs 300. Find out the income of Sh. H. Mukherjee under the head income from House Property" for the assessment year 2018-19