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WorksheetsINCOME TAX
Total questions: 10
Worksheet time: 7mins
The provisions relating to the income from house property are contained in sections.
16-21
22-27
28-32
36-42
A rent which a similar property can fetch in a similar locality is called.
Municipal value
Fair rent value
Standard rent va;ue
Actual rent value
A Standard deduction of _________ of the net annual value is allowed as deduction u/s 24.
30%
40%
50%
13%
Interest on pre construction period will be allowed in __________ equal annual instalments.
2
3
4
5
GAV of let-out house is:
Higher of ERV or Actual Rent
Least of ERV or Actual Rent
Lower of FRV or MRV
none of these
Maximum deduction of interest on loan borrowed after 1.4.99 in case of self occupied house is:
Rs.1,50,000
Rs.30,000
Rs.50,000
Rs.2,00,000
Maximum deduction of interest on loan borrowed before 1.4.99 in case of self occupied house is:
Rs.1,50,000
Rs.30,000
Rs.50,000
Rs.2,00,000
Maximum loss possible on self occupied house is
Rs.10,000 or Rs.50,000
Rs.20,000 or Rs.2,00,000
Rs.30,000 or Rs.2,00,000
Rs.30,000 or Rs.50,000
Municipal taxes paid by tenant is deducted from GAV
True
False
Unrealized rent is deducted from Expected rent
True
False
