Any rent or revenue derived from land which is situated in India and is used for agricultural purpose is .

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
• 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
• If fair rent is not gives, then assume………….as fair rent.
• For computation of Gross Annual Value, if actual rent is more than expected rent, then we select the .
• If the agricultural income is ……….. then the agricultural income is considered for calculating tax.
• The house rent allowance (HRA) under the salary head of Income Tax Act is given by
• 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 .
• If the assesses let out the building or staff quarters to the employee of business, the rent collected from such employees is assessable as income from .
• Arrear rent is taxable after deducting…………..as per Section 25B of the Income Tax Act, 1961.
• Value of rent-free accommodation in case of Government employee shall be taxable up to