Taxation

12. Mr. Jayaswamy owns a big house (erection completed on 31st July 2018). The house has three independent units. Unit- 1 ( 50% of the floor area) is let out for residential purpose on the monthly rent of Rs. 8,200. Unit-1 remained vacant for one month. A sum of Rs. 700 could not be collected from the tenant. Unit-2 (25% of the floor area is used by him) for the purpose of profession. Unit-3 (the remaining 25% ) is utilized for the purpose of his residence. The other particulars of the house are as follows: Municipal valuation Rs. 80,000 , Fair Rent Rs. 90,000, standard rent Rs. 1,00,000, Municipal taxes Rs. 12,000, Repairs Rs.14,000, Ground rent Rs. 64,000, annual charges created under the will by his father Rs. 10,000. He has borrowed Rs. 4,00,000 at the rate of 10% from SBI for the construction of this house on 1st August 2014 and nothing is repaid so far. His income from profession is Rs. 1,05,000 (without debiting house rent and other incidental expenditure including admissible depreciation on the portion of the house used for profession Rs. 9,000). Compute his Taxable Income from House property for he P.Y. 2021-22