Mr. Zen owns a flat in Mumbai which was let out by him in the previous year 2017-18 on a rent of ₹20,000 p.m. upto December, 2017 and for ₹30,000 p.m. thereafter. The annual municipal value is of ₹3,00,000, Fair Rent is
CS Executive · Tax Laws and Practice · PYQS · June 2018
Mr. Zen owns a flat in Mumbai which was let out by him in the previous year 2017-18 on a rent of ₹20,000 p.m. upto December, 2017 and for ₹30,000 p.m. thereafter. The annual municipal value is of ₹3,00,000, Fair Rent is ₹2,50,000 and Standard Rent is ₹2,90,000. The gross Annual Value of the flat shall be taken as:
Answer & Explanation:
Correct Answer: Option (D)
Official answer key: (D).
Topics: Income Tax
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