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.  

Practice Next
×
×