Mrs. Anisha, an Indian citizen aged 50 years, left India on 29th September, 2024 for permanent settlement in the U.S.A. Prior to this, she had never…

Mrs. Anisha, an Indian citizen aged 50 years, left India on 29th September, 2024 for permanent settlement in the U.S.A. Prior to this, she had never travelled outside India. She owns a self-occupied residential house property in New York (U.S.A.). The expected rent from the house, when converted into Indian Rupees, is 20 lakh in the previous year 2024-25. She has earned interest income of 11,50,000 (gross) from USA Pension fund bond and received in her USA bank account. In India, she owns two residential properties - House X and House Y. House X was self-occupied by her during the stay in India and the annual value of a similar property in the vicinity is 8 lakh. House Y was let out for generating regular rental income. House Y is situated near a famous temple and was rented out to Mr. Amit for the entire financial year 2024-25 at a monthly rent of 60,000. However, due to the upcoming annual temple festival attracting millions of devotees, the tenant found it difficult to reside in this area and wanted to shift to any other place. He refused to pay rent for two months, though the tenancy remained bona fide. To maintain goodwill, Mrs. Anisha offered him another semi-constructed residential property, which Mr. Amit accepted and shifted to that house. Mrs. Anisha also entered into an agreement with Mr. Nagesh, a renowned parking contractor, to lease out her garage for parking space at the ground floor of House Y for four months at rent of 55,000 per month during the financial year 2024-25. The business turnover of Mr. Nagesh during the financial year 2024-25 was 95 lakh and for the financial year 2023-24 was - 1.1 crore. All the rent and parking charges were received in the bank account maintained in India by the respective persons. House X and House Y were acquired in the financial year 2023-24 with a bank loan of 25 lakh and 30 lakh, respectively. Mrs. Anisha paid interest of 2.5 lakh for House X but interest of 3 lakh accrued in house loan account could not be actually paid for House Y.