AAFM Chartered Wealth Manager (CWM) Global Examination GLO_CWM_LVL_1 Question # 134 Topic 14 Discussion

AAFM Chartered Wealth Manager (CWM) Global Examination GLO_CWM_LVL_1 Question # 134 Topic 14 Discussion

GLO_CWM_LVL_1 Exam Topic 14 Question 134 Discussion:
Question #: 134
Topic #: 14

Smt. Rajalakshmi owns a house property at Adyar in Chennai. The municipal value of the property is Rs. 5,00,000, fair rent is Rs. 4,20,000 and standard rent is Rs. 4,80,000. The property was let-out for Rs. 50,000 p.m. up to December 2010. Thereafter, the tenant vacated the property and Smt. Rajalakshmi used the house for self-occupation. Rent for the months of November and December 2010 could not be realized in spite of the owner's efforts. She paid municipal Texas @12% during the year. She had paid interest of Rs.25,000 during the year for amount borrowed for repairs for the house property. Compute her income from house property for the A.Y. 2012-13.


A.

Rs 281500


B.

Rs 275500


C.

Rs 269000


D.

Rs 265400


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