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Mr. James owns property which he bought many years ago. Rental income account for the year 2014 was a follows:

KSHS.
Gross rent 300,000
Less: Loan repayment 150,000
Interest on loan 125,000
Fencing 30,000
Caretaker wages 55,000
Insurance, rent and rates 25,000
Replace broken doors 85,000
Less carried forward (170,000)

Taxable income of Mr. James for the year ended 31 Dec 2014.



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