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

Related MCQs

• Mr. R owns a house. The Municipal value of the house is ` 50,000. He paid ` 8,000 as local taxes during the year. He uses this house for his residential purposes but lets out half of the house @ ` 3,000 p.m. The annual value of the house is.
• 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. Rental income of Laxman is taxable under the head .
• The income is chargeable under the head of salary under ……………of Income Tax Act, 1961.
• The house rent allowance (HRA) under the salary head of Income Tax Act is given by
• Rent from House Property let out by an assessee to his employees when such letting is incidental to his main business will be chargeable to tax under head .
• If the individual using the property for the business or professional purpose the income taxable under the……………..head.
• ,67,000. While computing income from house property, the deduction is allowable to the extent of .
• Deduction for other expenses except interest in the computation of income from house property is allowable to the extent of .
• As per Income Tax Act, 1961, income tax is charged on the income of at a rates which are prescribed by the Finance Act of relevant assessment year.
• The following is not taxable as income under the head “Salaries”: