Sajal is the owner of a house property covered under the Rent Control Act. Municipal value ₹30,000, actual rent ₹25,000, fair rent ₹36,000 and standard rent is ₹28,000. The gross annual value of the house property will b

CS Executive · Tax Laws and Practice · PYQS · December 2014
Sajal is the owner of a house property covered under the Rent Control Act. Municipal value ₹30,000, actual rent ₹25,000, fair rent ₹36,000 and standard rent is ₹28,000. The gross annual value of the house property will be —
(A) ₹30,000
(B) ₹25,000
(C) ₹36,000
(D) ₹28,000.

Answer & Explanation:

Correct Answer: Option (D)

Correct answer: (D) ₹28,000.. This answer applies to the historical law and assessment-year context of this December 2014 paper; later amendments may differ.

Topics: Income Tax Act, 1961

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