Top 150+ Solved Business Taxation MCQ Questions Answer

From 76 to 90 of 141

Q. Under the Head Income from House Property, the basis of charge is theof property.

a. annual value

b. quarterly value

c. half-quarterly value

d. none of the above

  • a. annual value

Q. Mr. Ram owns a house property. He lent it to Laxman at ` 10,000 p.m.Laxman sublet it to Mr. Maruti on monthly rent of ` 20,000 p.m. Rentalincome of Laxman is taxable under the head .

a. income from salary

b. income from other sources

c. income from house property

d. income from business

  • b. income from other sources

Q. An individual who transfers house property without an adequateconsideration to his owner spouse or to minor child is called as .

a. co-owner

b. deemed owner

c. owner himself

d. none of the above

  • b. deemed owner

Q. If the individual using the property for the business or professional purposethe income taxable under the……………..head.

a. income from house property

b. income from huf

c. income from other

d. income from business or proprietorship

  • d. income from business or proprietorship

Q. Which of the following is not a case of deemed ownership of houseproperty?

a. transfer to a spouse for inadequate consideration

b. transfer to a minor child for inadequate consideration

c. holder of an importable estate

d. co-owner of a property

  • d. co-owner of a property

Q. ,67,000. While computing income from house property, the deduction isallowable to the extent of .

a. ` 30,000

b. 1,00,000

c. ` 1,67,000

d. ` 1,50,000

  • d. ` 1,50,000

Q. Deduction for other expenses except interest in the computation of incomefrom house property is allowable to the extent of .

a. 25% of annual value

b. 10% of annual value

c. 30% of annual value

d. 20% of annual value

  • c. 30% of annual value
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