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Taxation (India) Practice Test: Income From House Property
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Taxation (India) Practice Test: Income From House Property
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25 Questions

1. Interest on capital, borrowed on 10.10.2000, for self-occupied property is deductible up to a maximum amount of .
2. Under the Head Income from House Property, the basis of charge is the of property.
3. Arrear rent is taxable after deducting…………..as per Section 25B of the Income Tax Act, 1961.
4. Which of the following is not a case of deemed ownership of house property?
5. An individual who transfers house property without an adequate consideration to his owner spouse or to minor child is called as .
6. An individual assesses can show maximum loss of …………….from a selfoccupied residential house property.
7. ………………..standard deduction from annual value is allowed.
8. The value of interest-free concessional loans to employees is determined on the basis of lending rates of for the same purpose.
9. 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 .
10. 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 .
11. Income from property held under trust for charitable or religious purposes is .
12. Deduction from annual value is allowed under .
13. 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 .
14. The Annual Value has been defined under of Income Tax Act, 1961.
15. Value of rent-free accommodation or a house owned by employer in case of non-government employees with above 25 lakh population is .
16. Deduction for other expenses except interest in the computation of income from house property is allowable to the extent of .
17. Interest on loan for self-occupied house taken before 1st April, 1999 will be allowed up to
18. Gross annual value shall be higher of .
19. 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
20. Value of rent-free accommodation in case of Government employee shall be taxable up to
21. ,67,000. While computing income from house property, the deduction is allowable to the extent of .
22. If fair rent is not gives, then assume………….as fair rent.
23. House property held for less than 36 months is .
24. Rent received by original tenant from sub-tenant is taxable under the head
25. If the individual using the property for the business or professional purpose the income taxable under the……………..head.

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