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TA Week 2 - Quiz

Authored by MSTU Chennai

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Professional Development

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TA Week 2 - Quiz
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25 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which section of the Income Tax Act deals with 'Income from House Property'?

Sections 15 to 17
Sections 22 to 27
Sections 28 to 44
Sections 45 to 55

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is not considered 'Deemed Owner' under Income Tax provisions?

Holder of indivisible property among heirs
Person transferring property to spouse
Tenant with a lease of less than 12 years
Allottee under co-operative housing scheme

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the annual value of a self-occupied house property used for own residence?

Full rental value
Fair rent
Nil
Standard rent

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How is Expected Rent calculated while computing Annual Value?

Lower of actual rent and standard rent
Higher of fair rent and municipal rent, but not exceeding standard rent
Lower of fair rent and actual rent
Only standard rent

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a valid deduction under Section 24(b)?

Interest on savings account
Interest on home loan
Interest on fixed deposit
Interest on car loan

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Under which rule can GPF advance be taken for a dependent's education?

Rule 12(1)(a)
Rule 15(1)(A)(b)
Rule 12(1)(b)
Rule 15(1)(B)(b)

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Maximum repayment period for GPF advance is:

36 months
60 months
12 months
48 months

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