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    Question

    Section 24 (a) prescribes the standard deduction from

    NAV of a sum equal to?
    A 33% of NAV Correct Answer Incorrect Answer
    B 30% of NAV Correct Answer Incorrect Answer
    C 1/3rd of NAV Correct Answer Incorrect Answer
    D Actual cost of repairs Correct Answer Incorrect Answer

    Solution

    Section 24(a) of the Income Tax Act in India prescribes the standard deduction from the Net Annual Value (NAV) of a property, and it is typically 30% of the NAV.  

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