5 Questions
What is mandatory for the computation of income under the head 'Income from House property'?
Determination of annual value of the property
Under what circumstance is the annual value of a property not chargeable to tax under 'Income from House property'?
When the property is occupied for the purpose of a business or profession carried on by the owner
When is the annual value of a property not chargeable to tax under 'Income from House property'?
When the property is used for a business or profession carried on by the owner
What type of property is chargeable to tax under the head 'Income from House property'?
Residential buildings, factory buildings, offices, and shops
What is essential for the property to be chargeable to tax under the head 'Income from House property'?
It should consist of any building or land appurtenant thereto
Test your knowledge of the tax laws and practices related to income from house property with this quiz. Explore the chargeability of income under Section 22 and the determination of annual value as per Section 23. Sharpen your understanding of the computation process and enhance your expertise in this area of direct taxation.
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