The house rent allowance (HRA) under the salary head of Income Tax Act is given by

Related MCQs

• The income is chargeable under the head of salary under ……………of Income Tax Act, 1961.
• 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
• 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.
• 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.
• 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 .
• 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 .
• Under Section 15 of Income Tax Act, the salary due in previous years and even if it is not received is .
• Arrear rent is taxable after deducting…………..as per Section 25B of the Income Tax Act, 1961.
• Under the Head Income from House Property, the basis of charge is the of property.
• 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