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Nair, a retired person of 68 years of age obtained ₹ 10,000 per month from 1st April 2020 on a reverse mortgage of his self-occupied residential property from a bank. The fair rent of the property is ₹ 15,000 per month. The income chargeable to tax in respect of amount received on reverse mortgage for his self-occupied house property for the FY 2020-21 would be:

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Nair, a retired person of 68 years of age obtained ₹ 10,000 per month from 1st April 2020 on a reverse mortgage of his self-occupied residential property from a bank. The fair rent of the property is ₹ 15,000 per month. The income chargeable to tax in respect of amount received on reverse mortgage for his self-occupied house property for the FY 2020-21 would be:






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