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

Related MCQs

• For computation of Gross Annual Value, if actual rent is more than expected rent, then we select the ______________.
• 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 Ram is taxable under the head______________.
• Rental income from the business of leasing out properties would be taxable under the head_______
• _______ is the rent fixed under Rent control Act.
• ………………………….% standard deduction is allowed on annual value.
• Deduction from annual value is allowed under ______________.
• Salary of S (Rs. 40,000 per month) becomes due on the last day of the month but is paid on 7th of next month. Also, salary of April, 2014 and May, 2014 is received in advance in March, 2014. What will be his gross income for Assessment Year 2014-15?
• Gross Total Income is arrived after:
• Expected Rent can be determined in the following way
• Rent Free Accommodation given to an employee by the employer is a _________