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AAFM Exam GLO_CWM_LVL_1 Topic 9 Question 77 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam
Question #: 77
Topic #: 9
[All GLO_CWM_LVL_1 Questions]

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.

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Suggested Answer: C

by Evan at Apr 19, 2024, 09:00 PM

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Aliza
6 months ago
Well, I guess we have different opinions. It's tricky, but I am leaning towards B) Rs 275500.
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Sue
6 months ago
I disagree, I think it's D) Rs 265400 due to the non-realization of rent for November and December.
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Ellsworth
6 months ago
I agree with user 1, I also think it's A) Rs 281500 because of the interest paid for repairs.
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Verona
6 months ago
I am not sure, but I think it might be C) Rs 269000.
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Providencia
6 months ago
No, I believe the correct answer is B) Rs 275500.
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Elroy
7 months ago
I think the answer is A) Rs 281500.
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Silvana
7 months ago
That seems correct, considering the rent received and the expenses incurred.
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Mica
7 months ago
According to the given information, Smt. Rajalakshmi's income from house property for A.Y. 2012-13 is Rs 281500.
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