📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!

  • google app store apple app store

    • Question

      A property has Gross Annual Value ₹2,40,000. Municipal

      taxes paid ₹40,000. Standard deduction is 30%. What is the income from house property?
      A ₹1,40,000 Correct Answer Incorrect Answer
      B ₹1,68,000 Correct Answer Incorrect Answer
      C ₹2,00,000 Correct Answer Incorrect Answer
      D ₹1,82,000 Correct Answer Incorrect Answer

      Solution

      Net Annual Value = GAV – Municipal Taxes = ₹2,40,000 – ₹40,000 = ₹2,00,000 Less: Standard Deduction (30%) = ₹60,000 Income = ₹2,00,000 – ₹60,000 = ₹1,40,000

      Practice Next

      Relevant for Exams:

      ask-question