Top 50+ Solved INCOME FROM HOUSE PROPERTY MCQ Questions Answer
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
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
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
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
Q. If the assesses let out the building or staff quarters to the employee ofbusiness, the rent collected from such employees is assessable as incomefrom .
a. business
b. house property
c. other sources
d. none of the above
Q. Calculate the Gross Annual Value from the following details: MunicipalValue ` 45,000Fair rental value ` 50,000 Standard Rent ` 48,000 Actual Rent ` 42,000
a. ` 50,000
b. 48,000
c. ` 45,000
d. 42,000
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
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
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
Q. Arrear rent is taxable after deducting…………..as per Section 25B of theIncome Tax Act, 1961.
a. 30%
b. 35%
c. 10%
d. 20%
Q. The value of interest-free concessional loans to employees is determinedon the basis of lending rates of for the same purpose.
a. sbi
b. ` rbi
c. central government
d. state government
Q. Value of rent-free accommodation in case of Government employee shallbe taxable up to
a. 15% of employee’s salary
b. 8% of employee’s salary
c. license fee fixed by government
d. 10% of employee’s salary
Q. Value of rent-free accommodation or a house owned by employer in caseof non-government employees with above 25 lakh population is .
a. 15% of employee salary
b. 7.5% of employee salary
c. 20% of employee salary
d. 10% of employee salary