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Jayashree owns a house in India, which is let-out. Compute the G
GAV of the house from the information given below –
Municipal Value – 80,000
Fair Rent – 90,000
Standard Rent – N.A.
Actual Rent received/ receivable – 72,000
Surya owns a house in Pune, which is let-out. Compute the
GAV of thehouse from the information given below –
Municipal Value – 65,000
Fair Rent – 65,000
Standard Rent – 58,000
Actual Rent received/ receivable – 60,000
Anirudh has a property whose municipal valuation is Rs. 1,30,000 p.a. The fair rent is Rs.1,10,000 p.a. and the standard rent fixed by the Rent Control Act is Rs. 1,20,000 p.a. The property was let out for a rent of Rs. 11,000 p.m. throughout the previous year.
Unrealised rent was Rs. 11,000 and all conditions prescribed by Rule 4 are satisfied. He paid municipal taxes @10% of municipal valuation. Interest on borrowed capital was Rs. 40,000 for the year. Compute his income from house property for A.Y.2022-23.
Mansi owns a house in Jaipur, which is let-out. Compute the
GAV of thehouse from the information given below –
Municipal Value – 80,000
Fair Rent – 75,000
Standard Rent – 78,000
Actual Rent received/ receivable -72,000
Smt. Rajalakshmi owns a house property at Adyar in Chennai. The municipal value of the property is Rs. 5,00,000, fair rent is Rs. 4,20,000 and standard rent is Rs. 4,80,000. The property was let-out for Rs. 50,000 p.m. up to December 2021. Thereafter, the tenant vacated the property and Smt. Rajalakshmi used the house for self-occupation. Rent for the months of November and December 2021 could not be realised in spite of the owner’s efforts. All the conditions prescribed under Rule 4 are satisfied. She paid municipal taxes @ 12% during the year. She had paid interest of Rs. 25,000 during the year for the amount borrowed for repairs for the house property. Compute her income from house property for the A.Y. 2022-23.
Ganesh has a property whose municipal valuation is Rs. 2,50,000 p.a. The fair rent is Rs. 2,00,000 p.a. and the standard rent fixed by the Rent Control Act iS Rs.2,10,000 p.a. The property was let out for a rent of Rs. 20,000 p.m. However, the tenant vacated the property on 31.1.2022. Unrealised rent was Rs. 20,000 and all conditions prescribed by Rule 4 are satisfied. He paid municipal taxes @8% of municipal valuation. Interest on borrowed capital was Rs. 65,000 for the year. Compute the income from house property of Ganesh for A.Y. 2022-23.
Priti owns a house in Surat, which is let-out. Compute the
GAV of thehouse from the information given below –
Municipal Value – 24,000
Fair Rent – 25,000
Standard Rent – N.A.
Actual Rent received/ receivable – 30,000
ABC owns a house property situated in Delhi. The particulars of the houses are as under:
Municipal Value – 1,20,000
Fair Rent – 1,60,000
Standard Rent – 1,40,000
Actual Rent (per month) – 12,000
Period of vacancy – Nil
Municipal taxes for the year – 20% of Municipal Value
Municipal tax paid during the year – 24,000
Shrishti owns a house property situated in Rajkot. The particulars of the houses are as under:
Municipal Value – 1,70,000
Fair Rent – 2,00,000
Standard Rent – 2,20,000
Actual Rent (per month) – 18,000
Period of vacancy – 1 Month
Municipal taxes for the year – 40,000
Municipal tax paid during the year – 80,000
Naman owns a house property situated in Mumbai. The particulars of the houses are as under:
Municipal Value – 2,00.000
Fair Rent – 2,40,000
Standard Rent – Nil
Actual Rent (per month) – 21,000
Period of vacancy – 6 Months
Municipal taxes for the year – 50,000
Municipal tax paid during the year – 30,000
Vacant site lease rent is taxable as
Treatment of unrealized rent for determining income from house property
Municipal taxes to be deducted from GAV should be
Deduction under section 24(a) is
Interest on borrowed capital accrued up to the end of the previous year prior to the year of completion of construction is
Mr. Rajesh owns a residential house, let out for a monthly rent of Rs. 15,000. The fair rental value of the property for the let out period is Rs. 15,00,000. The house was self-occupied by him from 1st January,2018 to 31st March,2018. He has taken a loan from a bank of Rs. 20 Lacs for the construction of the property, and has repaid Rs. 1,05,000 (including interest Rs. 40,000) during a year.
Compute Rajesh’s income from house property for the A.Y. 2018-19.
Rajesh owns a house in Delhi, which is let-out. Compute the
GAV of the house from the information given below –
Municipal Value – 55,000
Fair Rent – 60,000
Standard Rent – 75,000
Actual Rent received/ receivable -72,000
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