Income Tax MCQ QUIZ Set – 6 (Income from House Property)

Spread the love

MCQ on Income from House Property

MCQ of Income from house property- Income Tax

Income from house property MCQ with answers
Also Read: 

1. The basis of charge Under the head income from house property under income tax act, 1961.




Answer is C)
Annual Value

 

 

2. Annual value is defined u/s



Answer is A)
23(1) 

 

 

3. The Income from House Property is taxable on individual even if property is not registered in his name



Answer is D)
All of the above

 

 

4. Mr. A owns a house property. He lent it to Mr.B at 20,000 p.m. Mr.B sublet it to Mr. C on monthly rent of ` 30,000 p.m. Rental income of A is taxable under the head ….




Answer is B)
Income from House Property 

 

  5. For claiming the deduction for unrealised rent, the assessee must satisfy Which of the following rules




Answer is B)
Rule 4

 

 

6. The tax paid by the tenant is ?



Answer is B)
No adjustment

 

 

7. What % is allowed as deduction from the annual value.



Answer is c)
30%

 

 

8. which purposes are deductible from annual value for Interest on loan taken?



Answer is D)
All of the Above

 

 

9. Which of the following is not deductible from annual value?



Answer is C)
Interest on unpaid interest

 

 

10. Annual value of self-occupied house is….



Answer is A)
Nil

 

 

11. Foreign house property’s income is taxable in the case of



Answer is C)
Ordinarily Resident

 

 

12. Which of the following is deductible from the annual value of House Property ?



Answer is A)
Municipal taxes paid by the owner during the previous year

 

 

13. Which of the following conditions must be satisfied to charge the rental income under the head Income of House Property:



Answer is D)
All of the above

 

 

14. Mr. A owns a house property. He lent it to Mr. B at ` 10,000 p.m. Mr. B sublet it to Mr. C on monthly rent of ` 20,000 p.m. Rental income of Mr. B is taxable under the head



Answer is A)
Income from Other Sources

 

 

15. Rule 4 includes



Answer is A)
All of the Below

 

 

16. If the house remains vacant for the whole year, Then annual value will be



Answer is C)
Nil

 

 

17. In incomre House Property, A sum equal to 30% is allowed as deduction from the annual value as



Answer is B)
Standard Deduction

 

 

18. Deductions from annual value is comes under section….



Answer is A)
24

 

 

19. Interest for pre-acquisition period is deductible in ………………. instalments



Answer is c)
5

 

 

20. From the amount of arrears of rent received, ….. % Is allowed as deduction



Answer is A)
30%

 

 

21. which is the charging section under income from house property section  ?



Answer is C)
Sec 22

 

 

22. income from sub-letting of house property is Taxable as under……..head in income tax



Answer is B)
Income from other sources

 

 

23. if actual rent received or receivable exceeds expected rent, the gross annual value equals to or taken as…..



Answer is A)
Actual rent received

24. More than one house in the occupation of the owner comes under section.

A. sec 23(4)

B. sec 22(4)

C. sec21(3)

D. None of the above 

25. Pre-construction interest means

A. interest paid after the completion of the house

B. interest paid prior to the completion of the house

C. Same Period

D. None of the above
 
26. Let out or deemed to be let out house property comes under section-

A. Sec 24b

B. Sec 25b

C. Sec 26b

D. None of the above

 27. Standard deduction is allowed 30% of the ….

A.  Net profit

B. gross profit

C. Net Annual Value

D. None of the above

28 . maximum deduction allowable on purchase , acquisition or construction of the house before 01.04.1999

A. 30000

B. 40000

C. 50000

D. None of the above

29. Interest on borrowed money which is payable outside Indian shall not be allowed as deduction u/s 

A. 26A

B. 25B

C. 24B 

D. None of the above

30. Gross Annual Value is the amount of

A. MV or FR or AR which ever is lower

B. MV or FR or AR which ever is highest 

C. MV = FR = AR

D. None of the above

Income from House Property MCQ with Answers
Also Read:

 Income Tax MCQ / Multiple Choice Questions on Taxation with Answers :

Author
Manturanjan Sa
Founder of Income TaxPe  & Shayari Me Kahani. Professionally a Lecturer, by passion a Writer, Dancer, lyricist. fitness lover. Also a social worker co-founder of Kartabya Foundation & Digital Entrepreneur.

Spread the love

2 thoughts on “Income Tax MCQ QUIZ Set – 6 (Income from House Property)”

Leave a Comment