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.

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
• When the portion of the house is self-occupied for the full year and portion is self-occupied for the whole year, the annual value of the house shall be determined by .
• 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 .
• 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 .
• An individual assesses can show maximum loss of …………….from a selfoccupied residential house property.
• 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 .
• When annual value of one-self occupied house is nil, the assesses will be entitled to the standard deduction of .
• ……………….of Income Tax Act is related to residential status.
• The Company may have the residential status as .