The value of interest-free concessional loans to employees is determined on the basis of lending rates of for the same purpose.

Related MCQs

• 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 .
• 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
• Value of rent-free accommodation or a house owned by employer in case of non-government employees with above 25 lakh population is .
• 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.
• The tax payer liability is determined with reference to his or her .
• 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. 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
• 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 .
• 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 .
• Under the Head Income from House Property, the basis of charge is the of property.