TAXATION ASSIGNMENT
GIVEN DATE 1-04-2022
SUBMISSION DATE – 5-04-2022
Instruction: Submission on Microsoft teams under Assignment head
Q1. X owns a house in Delhi. During 2019-20, 3/4th portion was Self-occupied
and balance 1/4th portion was let out at a monthly rent of Rs. 26,000 p.m. up to
31.8.19 and thereafter @ Rs.30,000 per month. Municipal value of the house is
Rs. 9,00,000 and Fair Rent Rs. 9,80,000. Municipal tax of Rs.60,000 was paid for
the property during 2018-19. Interest on house building loan for the year
amounted to Rs.80,000 (of the total loan 80% utilized for major repair and 20%
utilized for personal convenience).
Compute Income from house property of Mr. X.
Q2 From the following particulars, calculate income from house property for the
previous year 2019-20:
Q3. X is the owner of a house, particulars of which are –
Gross Municipal Value Rs. 36,000; Fair Rent Rs.42,000 and Standard Rent
Rs.38,000, Annual Rent Rs.42,000. He paid municipal tax @ 10%. Find NAV –
Case-A: Unrealised Rent Rs. 3,000 and Case-B: Unrealised Rent Rs. 7,000.
Q4. X is the owner of a house, particulars of which are –
Gross Municipal Value Rs. 36,000; Fair Rent Rs.42,000 and Standard Rent
Rs.34,000, Rent actually received Rs.28,000. He paid municipal tax @ 10%. Find
NAV.
GIVEN DATE 1-04-2022
SUBMISSION DATE – 5-04-2022
Instruction: Submission on Microsoft teams under Assignment head
Q1. X owns a house in Delhi. During 2019-20, 3/4th portion was Self-occupied
and balance 1/4th portion was let out at a monthly rent of Rs. 26,000 p.m. up to
31.8.19 and thereafter @ Rs.30,000 per month. Municipal value of the house is
Rs. 9,00,000 and Fair Rent Rs. 9,80,000. Municipal tax of Rs.60,000 was paid for
the property during 2018-19. Interest on house building loan for the year
amounted to Rs.80,000 (of the total loan 80% utilized for major repair and 20%
utilized for personal convenience).
Compute Income from house property of Mr. X.
Q2 From the following particulars, calculate income from house property for the
previous year 2019-20:
Q3. X is the owner of a house, particulars of which are –
Gross Municipal Value Rs. 36,000; Fair Rent Rs.42,000 and Standard Rent
Rs.38,000, Annual Rent Rs.42,000. He paid municipal tax @ 10%. Find NAV –
Case-A: Unrealised Rent Rs. 3,000 and Case-B: Unrealised Rent Rs. 7,000.
Q4. X is the owner of a house, particulars of which are –
Gross Municipal Value Rs. 36,000; Fair Rent Rs.42,000 and Standard Rent
Rs.34,000, Rent actually received Rs.28,000. He paid municipal tax @ 10%. Find
NAV.
