Income from House Property MCQ | 30 Free MCQs

31. A house property with fair rent of 1,20,000 is neither let out nor self-occupied throughout the previous year. Its annual value shall be
a) 1,20,000
b) Nil
c) 60,000
d) None of the above

32. Unrealised rent is a deduction from……………
a) Gross annual value
b) Net annual value
c) Municipal Value
d) None of the above

33. A has two house properties. Both are self-occupied.
a) Both houses are SOP
b) One is SOP and other is DLOP
c) One house is LOP
d) None of the above

34. In case the property is owned by co-owners and it is self occupied by all co-owners. The annual value of…………….
a) Such house property be nil
b) For each co-owners shall be nil
c) Only for co-owner will be nil
d) None of the above

35. Municipal Tax paid is allowed as a deduction for ………….
a) SOP only
b) LOP only
c) LOP and DLOP
d) All of the above

36. Municipal tax is a deduction allowed on ……………..
a) Accrual basis
b) Payment basis
c) Both (a) & (b)
d) None of the above

37. Municipal tax paid in respect of house property is allowed as deduction if paid by ……………..
a) Tenant
b) Owner
c) Both (a) & (b)
d) None of the above

38. Mr. Varun is the owner of two houses namely “Genaraje” at Mulund & “Om Sai” at Thane which are self–occupied. However, the apartment at “Om Sai” was let out for 2 months. The computation of this property would be ………….
a) LOP
b) SOP
c) Partly LOP & partly SOP
d) DLOP

39. Unadjusted loss from house property can be carried forward & set off in subsequent years subject to limit of …………..
a) 7 Years
b) 8 Years
c) 6 Years
d) 9 Years