IFHP AY 2024-25

GAV IS KNOWN AS

• GROSS ACCOUNTING VALUE

• GREATER ANNUAL VALUE

• GROSS ANNUAL VALUE

VACCANCY MEANS

• TENANT OCCUPYING THE HOUSE

• TENANT NOT PAYING THE RENT

• NO TENANT

UNREALISED RENT MEANS

• NO TENANT

• TENANT OCCUPYING THE HOUSE BUT NOT PAYING THE RENT

• CHEQUE RECEIVED FOR RENT IS NOT REALISED

NAV MEANS

• GAV - MT

• GAV - EXPENSES

• FRV - MRV

INCOME TAX ACT

• 1961

• 1956

• 1932

NAV of Self Occupied House Property is

• NIL

• Negative

• Positive

Standard Deduction on NAV for Letout House Property is

• 20%

• 25%

• 30%

Municipal Tax paid by _________________ is allowed as deduction u/s 23

• Tenant

• Owner

• Both

Assessee can avail the benefit of _____________ Self Occupied House Property

• 2

• 1

• 3

House property can be used as ............. by the owner of the property

• self-occupied

• let-out

• self-occupied & Let out