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51. If the individual using the property for the business or professional purpose the income taxable under the___________________head.
Income from House property
Income from HUF
Income from Other
Income from Business or Proprietorship
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52. If the assesses let out the building or staff quarters to the employee of the business, the rent collected from such employees is assessable as income from________________.
Business
House Property
Other Sources
None of the above
53. The Gross annual value of the property depends upon the_______________.
Standard rent
Municipal Valuation
Fair rent
All of the above
54. If Anil is entitled to a basic salary of ` 50,000 p.m. and dearness allowance of ` 10,000 p.m., 40% of which forms part of retirement benefits. He is also entitled to HRA of ` 20,000 p.m. He actually lives with his parents in Mumbai and does not pay any rent. The market rent of that house is ` 20,000 p.m. in Mumbai, then calculate the exempt HRA for Mr. Anil.
Nil
64,800
2,40,000
1,75,200
55. 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
50,000
48,000
45,000
42,000
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