Income-tax and Corporate Tax Planning - Income Tax and Corporate Tax Planning Section 3

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1. Sunil purchased a house for his residential purpose after taking a loan in January 2016. During the previous year 2016-17, he paid interest on loan ` 1,67,000. While computing income from house property, the deduction is allowable to the extent of ___________.

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2. The expected rent shall be higher__________.

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3. Municipal Value ` 14,000, Fair rent ` 14,500, Standard Rent ` 14,200, Actual rent as property let-out throughout the previous year ` 16,800 and Unrealized rent of the previous year ` 7,000. The annual value of the house property shall be __________.

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4. Interest on capital, borrowed on 10.10.2000, for the self-occupied property is deductible up to a maximum amount of ____________.

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5. Deduction from annual value is allowed under___________.

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  • Income Tax Questions And Answers can be used to gain a credit score in various undergraduate and postgraduate commerce courses like B com and Mcom
  • Income Tax Questions And Answers can be used in the preparation of UGC net exams.
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  • These Income Tax Questions And Answers can also be used by any student of XI or XII standard who has opted to study commerce to increase his knowledge in  Human Resource Management

 

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