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Commerce · Q57

Income Tax and Corporate Tax

Graduate and Post Graduate · Commerce · question 57

Q57

Given is the information related to a house Municipal Value (M.V.) Rs. 1,50,000 Fair Rent Rs. 1,80,000 Standard Rent Rs. 1,60,000 Actual Rent Rs. 20000 Municipal tax paid by owner is 20% of M. V. Unrealised rent 40,000 (conditions of rule 4 satisfied). What is the annual value of the house?

A.
Rs. 1,60,000
B.
Rs. 1,50,000
C.
Rs. 2,10,000
D.
Rs. 1,70,000
Answer

Answer: Option D

Solution

Answer: Option D
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