Calculate the Gross Annual Value from the following details: Municipal
Value ` 45,000
Fair rental value ` 50,000 Standard Rent ` 48,000 Actual Rent ` 42,000

Related MCQs

• Mr. Shushant is the owner of a house, the details of which are given below the gross annual value would be Municipal value ` 36,000 Actual rent ` 32,000 Fair Rent ` 36,000 Standard Rent ` 40,000
• For computation of Gross Annual Value, if actual rent is more than expected rent, then we select the .
• If fair rent is not gives, then assume………….as fair rent.
• 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 .
• Gross annual value shall be higher of .
• The net annual value of house let out is ` 1,00,000 and actual amount spent by the assessee on repairs and insurance premium is ` 20,000. The amount of deduction allowed under Section 24(a) shall be .
• Rental income from the business of leasing out properties would be taxable under the head_______
• ………………..standard deduction from annual value is allowed.
• When annual value of one-self occupied house is nil, the assesses will be entitled to the standard deduction of .