alleryStart learning →The 30 per cent deduction under section 24(a) is taken on:
AInterest paid in the year
BSale value of the house
CCost of the building
DAnnual value of the house
Answer & Solution
Correct answer: D. Annual value of the house
Clause (a) is a percentage of the annual value, not of cost, interest or sale value.
Keep practising Income from House Property
Browse all Income from House Property questions for CA Inter, or explore more Taxation topics.
Related questions
Two co-owners share a let house equally; annual value Rs 4,00,000, no loan. Each one's incLet-out house: annual value Rs 2,00,000, interest Rs 80,000. Income?House let at Rs 1,50,000 a year against fair rent Rs 1,20,000, no taxes. Income?Section 24(b) interest applies to a house acquired, built, repaired, renewed or:Section 22 taxes a building together with its appurtenant:Deemed owner of house property is defined in section:Taxation of co-owned buildings with definite shares is under section:Deductions from income from house property are provided in section: