Mr. Rohit received Rs. 2,00,000 in March 2018 towards recovery of unrealized rent. Legal expenses incurred Rs. 40,000. Compute taxable amount under section 25A for AY 2018-19.

Mr. Dhoni gifted property to his wife and to his minor daughter, Mrs. Dhoni let out both the property @ Rs. 20,000 and Rs. 25,000 and rent receives by her only. The income from both the house property will be taxable in the hand of :

Property is used by the assessee for the purpose of any business or profession carried on by him is chargeable to Income tax under the the head Income from house property after claiming deduction under section 24.

In case property held as stock-in-trade, the annual value of such property shall be NIL. This benefit would be available for the period upto ______ from the end of the financial year in which certificate of completion of the property is obtained.

Vacant ground lease rent is taxable :

Choose incorrect statement from below:

In case of let out property, choose the deductions which are allowed under section 24.   

(may select multiple option)

Loan taken on 1st april 2015 – Rs 5,00,000 @ 10% pa. Construction completed in the month of 31st March 2018. What shall be the amount of deduction u/s 24 on account of interest on borrowed capital for AY 2018-19?

Case 1) Interest on borrowed capital for self occupied house was payable Rs. 2,00,000 during previous year but actually paid only Rs. 1,20,000 during previous year.

Case 2) Interest on borrowed capital for self occupied house was paid during previous year. Amount – Rs. 2,10,000.

Allowable deduction under section 24??

Mr Kohli, ordinarily resident individual in india, received rental income from property situated in London but such income is not brought into India.

A) Annual value can not be negative.

B) Income from house property can be negative.

True or False??

Case 1) Gross annual value – Rs. 1,50,000 for AY 2018-19, Municipal tax of Rs. 18,000 was paid on 4th april 2018.

Case 2) Gross annual value – Rs. 1,50,000 for AY 2018-19, Municipal tax of Rs. 18,000 was paid on 4th April 2017.

Net annual value for AY 2018-19??

Municipal Value – 90,000, Fair Rent – 80,000, Standard Rent 70,000 Actual Rent Received – Rs. 6,000 pm, tenant vacated the property on 31 January 2018. Compute Gross Annual Value.

Mr Thanos has taken a house property on lease for 15 years from Mr. Stan lee in India, later he let out the same to Miss Nebula. Income from such house property shall be taxable in the hands of :

In case property situated outside India, and Municipal taxes paid on that property, such taxes are not deductible from gross annual value.