Goel completed the construction of a residential house property on 30-6-2018. He already owns another property in the same town which is self-occupied. The new construction is also self-occupied by him. He wants to treat
CS Executive · Tax Laws and Practice · PYQS · December 2019
Goel completed the construction of a residential house property on 30-6-2018. He already owns another property in the same town which is self-occupied. The new construction is also self-occupied by him. He wants to treat the new construction as deemed let out property. The relevant details of the new property are (i) municipal value ₹3,00,000; (ii) fair rent ₹3,60,000; and (iii) standard rent ₹2,80,000. The gross annual value of the property would be :
Answer & Explanation:
Correct Answer: Option (B)
Official answer key: (B).
Topics: Income Tax
Related Questions in this Topic
- Senthil employed in a nationalized bank incurred ₹60,000 towards medical expenditure of his parent who is a senior citiz...
- Income tax assessment of Kuber was completed on 15-12-2018 for the assessment year 2016-17. There is an error apparent i...
- Income tax assessment of Ajay was completed determining the income at ₹8,40,000 as against the returned income of ₹5,40,...
- A resident having transaction with a non-resident who has filed form 35D for advance ruling, can withdraw the applicatio...
- When the Advance Pricing Agreement (APA) has been entered into, it is valid for not more than __________ consecutive pre...