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21. Mr. Anup owns a house property. Municipal value ` 1,80,000, Fair Rent ` 1,35,000 and Standard Rent ` 1,65,000. It is let-out throughout the previous year for ` 10,000 p.m. up to December 31, 2015, and ` 1,65,000 p.m. thereafter. Find out the Gross Annual Value for the Assessment Year 2016-17.
1,80,000
1,65,000
1,55,500
None of the above
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22. The assessee lets on hire machinery, plant or furniture belonging to him and also building and the letting of the buildings is inseparable from the letting of the said machinery, plant, and furniture, the income from such letting is chargeable to tax under the head________.
Income from Business
Income from Capital Gain
Income from Other Sources
Profit and Gain from Business or Profession
23. For the computation of Gross Annual Value, if actual rent is more than expected rent, then we select the_____________.
Actual rent
Expected rent
Any of the above
24. The maximum limit for the deduction of Life insurance premia from the gross total income is_______________.
2,00,000
1,50,000
1,00,000
1,25,000
25. The deduction of life insurance premia, contribution to provident fund, etc. will is done under_______________of Income Tax Act, 1961.
Section 80C
Section 80U
Section 80D
Section 80E
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