11. Mr. Rupesh owns a house property. Municipal value ` 1,50,000, Fair Rent ` 1,25,000 and Standard Rent ` 1,45,000. It is let-out throughout the previous year for ` 10,000 p.m. up to December 31, 2015, and ` 1,45,000 p.m. thereafter. Find out the Gross Annual Value for the Assessment Year 2016-17.
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12. 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 full annual value of the house the proportionate annual value of self-occupied portion for the whole year shall be deducted
Its present standard value
All of the above
None of the above
13. 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 ____________.
14. If fair rent is not given, then assume____________as fair rent.
15. Rent received by an original tenant from sub-tenant is taxable under the head__________.
Income from House Property
Income from Other Sources
Income from Capital Gain
UGC NET PAPER 1
UGC NET Management
UGC NET COMPUTER SCIENCE
UGC NET COMMERCE
GATE COMPUTER SCIENCE
CFA Level 1
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