Q286
An assesse resides in his own house the valuation of which is Rs. 50 lakh and fair rent is Rs. 1 Lakh p.a. Annual value of house for the purpose of income tax will be:
A.
Rs. 50 Lakh
B.
Rs. 5 Lakh
C.
Rs. 1 Lakh
D.
Zero
AnswerAnswer: Option D
Solution
Answer: Option D
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