Two co-owners share a let house equally; annual value Rs 4,00,000, no loan. Each one's income?
ARs 2,00,000
BRs 1,20,000
CRs 1,40,000
DRs 2,80,000
Answer & Solution
Correct answer: C. Rs 1,40,000
Income after 30 per cent is 2,80,000 in all, and each of the two equal co-owners includes half, Rs 1,40,000.
Keep practising Income from House Property
Browse all Income from House Property questions for CA Inter, or explore more Taxation topics.
Related questions
Let-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?The 30 per cent deduction under section 24(a) is taken on: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: