INCOME FROM HOUSE PROPERTY (in Business Taxation) MCQs set 2

Business Taxation

Chapter: INCOME FROM HOUSE PROPERTY [set-2]

26. When the portion of the house is self-occupied for the full year and
portion
is self-occupied for the whole year, the annual value of the house shall be
determined by .

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A. the full annual value of the house the proportionate annual value of selfoccupied portion for the
whole year shall be deducted
.c
B. its present standard value
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a
C. all of the above

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D. none of the above
c
Answer: A
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27. If fair rent is not gives, then assume………….as fair rent.
A. actual rent

B. standard rent

C. average rent

D. none of the above

Answer: A

28. Rent received by original tenant from sub-tenant is taxable under the
head
A. income from house property

B. income from other sources

C. income from capital gain

D. none of the above

Answer: B

29. The net annual value of house let out is ` 1,00,000 and actual amount
spent
by the assessee on repairs and insurance premium is ` 20,000. The amount

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 INCOME FROM HOUSE PROPERTY (in Business Taxation) MCQs set 2

of deduction allowed under Section 24(a) shall be .

A. ` 35,000

B. ` 45,000

C. ` 30,000

D. ` 25,000

Answer: C

30. Rent from House Property let out by an assessee to his employees
when
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such letting is incidental to his main business will be chargeable to tax
under head .
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A. profit and gain from business and profession te
a
B. income from capital gain

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C. income from house property
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D. all of the above M
Answer: A

31. When annual value of one-self occupied house is nil, the assesses will
be entitled to the standard deduction of .
A. 10%

B. 20%

C. nil

D. none of the above

Answer: C

32. Gross annual value shall be higher of .

A. expected rent

B. actual rent received or receivable

C. all of the above

D. none of the above

Answer: C

33. Income from property held under trust for charitable or religious

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 INCOME FROM HOUSE PROPERTY (in Business Taxation) MCQs set 2

purposes is .
A. exempted from tax

B. taxable @ 10%

C. taxable @ 20%

D. none of the above

Answer: A

34. For computation of Gross Annual Value, if actual rent is more than
expected rent, then we select the .
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A. actual rent
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B. expected rent
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C. any of the above a
D. none of the above
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c
Answer: A
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 INCOME FROM HOUSE PROPERTY (in Business Taxation) MCQs set 2

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a
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