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Income Tax MCQ QUIZ Set – 7 (Income from House Property)

Income from house property MCQ with answers

1. The balance of unabsorbed loss from House property can be carry forward to a maximum of…… ?

A) 7

B) 5

C) 6

D) None of the above

… Answer is A)
7

2. Rent from vacant plot of land is assessible under the head….?

A) Income from Capital Gain

B) Income from Salary

C) Income from Other Source

D) None of the above

… Answer is C)
Income from Other Source

3. An individual who transfers HP without an adequate consideration to his owner, spouse or minor child is called as…. ?

A) Co-owner

B) Deemed Owner

C) Owner Himself

D) All of the above

… Answer is B)
Deemed Owner

4. If an individual let out the building or staff quarters to the employee of business, the rent collected comes under ……?

A) Income from Other Sources

B) Income from House Property

C) Income from Salary

D) None of this

… Answer is A)
Income from Other Sources

5. The Gross annual value of the property is depends upon the….?

A) Municipal Valuation

B) Standard rent

C) Fair rent

D) All of the above

… Answer is D)
All of the above

6. If an assesses earns rent from a sub-tenant in respect to tenanted property let out as a residence, such rent is called as ?

A) Taxable income under house property

B) Exempted under Section 10

C) Taxable as income from other sources

D) All of the above

… Answer is C)
Taxable as income from other sources

7. Deduction allowed from annual value is …. ?

A) Interest on loan for constitution

B) Interest on loan for repair

C) Statutory deduction

D) All of the above

… Answer is D)
All of the above

8. Rent received by original tenant from sub-tenant is taxable under the head of……?

A) Income from Other Sources

B) Income from House Property

C) Income from Capital Gain

D) All of the Above

… Answer is A)
Income from Other Sources

9. Income from house property held under trust for charitable or religious purposes is…….?

A) Taxable @10%

B) Taxable

C) Exempted from tax

D) None of the above

… Answer is C)
Exempted from tax

10. Subletting is assessible under the head…..?

A) Income from Other Source

B) Income from Capital Gain

C) Income from House property

D) None of the above

… Answer is A)
Income from Other Source

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

A) Non Resident

B) Not Ordinarily Resident

C) Ordinarily Resident

D) None of the above

… Answer is C)
Ordinarily Resident

12. In case of disputed ownership, income from House Property is chargeable in the hands…..?

A) Recipient of income

B) main owners

C) All owners

D) None of the above

… Answer is A)
Recipient of income

13. which is not a case of deemed ownership of house property ?

A) Co-owner of a property

B) Holder of an importable estate

C) None of this

D) All of the above

… Answer is A)
Co-owner of a property

14. If fair rent is not gives, then ….. will be assume as fair rent.

A) Standard rent

B) Average rent

C) Actual rent

D) None of the Above

… Answer is c)
Actual rent

15. Deduction from annual value is comes under…..

A) Sec 24

B) Sec 25

C) Sec 26

D) Sec 27

… Answer is A)
Sec 24

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

Author

Manturanjan Sa

Founder of this Blog Income TaxPe . Professionally a Lecturer, by passion a Writer, Dancer, lyricist. fitness lover. Also a social worker co-founder of Kartabya Foundation & Digital Entrepreneur.

Manturanjan Sa

Jai Hind… Namaskar

Lecturer / Writer/ Blogger / Dancer.
Rapper / Fitness Lover / Actor.
Founder of Income TaxPe, No Bekari, Shayari me Kahani and MCQ Questions.
Social Worker Co-founder of Kartabya Foundation(An animal, Social and Natural Welfare Organization.) and Founder of Mission Green Balangir (Natural Welfare Organization).

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Income Tax MCQ QUIZ Set – 7 (Income from House Property)

Income Tax MCQ QUIZ Set – 7 (Income from House Property)

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