Business Taxation MCQs and Notes
A
Q 1. Interest on loan for self-occupied house taken before 1st April, 1999 will be allowed up to
V
Q 2. ………………..standard deduction from annual value is allowed.
P
Q 3. Deduction from annual value is allowed under .
V
Q 4. Interest on capital, borrowed on 10.10.2000, for self-occupied property is deductible up to a maximum amount of .
S
Q 5. Expected rent shall be higher of .
G
Q 6. Mr. Shushant is the owner of a house, the details of which are given below
the gross annual value would be Municipal value ` 36,000 Actual rent `
32,000 Fair Rent ` 36,000 Standard Rent ` 40,000
G
Q 7. House property held for less than 36 months is .
V
Q 8. Rate of depreciation on residential building is……………..
A
Q 9. Value of rent-free accommodation or a house owned by employer in case of non-government employees with above 25 lakh population is .
A
Q 10. Value of rent-free accommodation in case of Government employee shall be taxable up to
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