{"id":11466,"date":"2021-11-22T16:40:39","date_gmt":"2021-11-22T11:10:39","guid":{"rendered":"https:\/\/scholarsclasses.com\/blog\/?p=11466"},"modified":"2025-10-09T17:05:15","modified_gmt":"2025-10-09T11:35:15","slug":"income-from-house-property-mcq","status":"publish","type":"post","link":"https:\/\/scholarsclasses.com\/blog\/income-from-house-property-mcq\/","title":{"rendered":"Income from House Property MCQ | 30 Free MCQs"},"content":{"rendered":"\n<h2 class=\"wp-block-heading has-text-align-center\">Income from House Property MCQ<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" width=\"1024\" height=\"576\" data-src=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/Income-from-House-Property-MCQ-1024x576.jpg\" alt=\"Income from House Property MCQ\" class=\"wp-image-11470 lazyload\" title=\"\" data-srcset=\"https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/Income-from-House-Property-MCQ-1024x576.jpg 1024w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/Income-from-House-Property-MCQ-300x169.jpg 300w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/Income-from-House-Property-MCQ-768x432.jpg 768w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/Income-from-House-Property-MCQ-1536x864.jpg 1536w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/Income-from-House-Property-MCQ-640x360.jpg 640w, https:\/\/scholarsclasses.com\/blog\/wp-content\/uploads\/2021\/11\/Income-from-House-Property-MCQ.jpg 1920w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;\" \/><figcaption class=\"wp-element-caption\">Income from House Property MCQ<\/figcaption><\/figure>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a href=\"https:\/\/scholarsclasses.com\/blog\/business-economics-mcq\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/business-economics-mcq\/\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><strong><a href=\"https:\/\/scholarsclasses.com\/blog\/income-tax-mcq\/\" data-type=\"URL\" data-id=\"https:\/\/scholarsclasses.com\/blog\/income-tax-mcq\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>MCQs on other topics of Taxation<\/strong><\/a><\/strong><\/li>\n\n\n\n<li><a href=\"https:\/\/www.icsi.edu\/media\/webmodules\/modelquestionpaper\/CMA-MCQ%20100.pdf\" data-type=\"URL\" data-id=\"https:\/\/www.icsi.edu\/media\/webmodules\/modelquestionpaper\/CMA-MCQ%20100.pdf\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Cost Accounting MCQs pdf<\/strong><\/a><\/li>\n<\/ul>\n\n\n\n<p><strong>1. Gross Annual Value of a SOP is &#8230;&#8230;&#8230;&#8230;&#8230;.<\/strong><br>a) Nil <br>b) 50,000<br>c) None of the above<\/p>\n\n\n\n<p><strong>2. Municipal tax is a deduction allowed on &#8230;&#8230;&#8230;&#8230;. basis.<br><\/strong>a) Payment<br>b) due<br>c) None of the above<\/p>\n\n\n\n<p><strong>3. Municipal tax is allowed as a deduction if it is paid by the &#8230;&#8230;&#8230; of the property.<br><\/strong>a) Owner<br>b) tenant<br>c) Owner or tenant<br>d) None of the above<\/p>\n\n\n\n<p><strong>4. Income is taxable under the head house property only when the assessee is the &#8230;&#8230;&#8230;.. of such house property.<\/strong><br>a) Owner<br>b) tenant<br>c) Owner or tenant<br>d) None of the above<\/p>\n\n\n\n<p><strong>5. Arrears of rent shall be deemed to be income of the previous year in which such rent is <strong>&#8230;&#8230;&#8230;&#8230;&#8230; after deducting &#8230;&#8230;&#8230;&#8230;.. <\/strong>of such amount.<\/strong><br>a) received, 30%<br>b) received, 50% <br>d) None of the above<\/p>\n\n\n\n<p><strong>6. Income from House cannot be taxed under the head house property if the owner occupies the property for his <strong>&#8230;&#8230;&#8230;&#8230;&#8230;..<\/strong>.<br><\/strong>a) business or profession <br>b) Living <br>c) None of the above<\/p>\n\n\n\n<p><strong>7. Arrears of rent received after the sale of property <strong>is taxable after deduction of &#8230;&#8230;&#8230;&#8230;..<\/strong>% of such amount.<\/strong><br>a) 30%<br>b) 50%<br>c) None of the above<\/p>\n\n\n\n<p><strong>8. In case of self-occupied property, the deduction on account of interest on the money borrowed for the purpose of construction of such house property cannot exceed &#8230;&#8230;&#8230;&#8230;&#8230; .<br><\/strong>a) 2,00,000<br>b) 3,00,000<br>c) 5,00,000<br>d) None of the above<\/p>\n\n\n\n<p><strong>9. Fair rent of house is 2,50,000 and annual rent 2,80,000. Municipal taxes paid for 6 yrs. In advance is 1,20,000. The Net annual value shall be &#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.<br><\/strong>a) 1,20,000<br>b) 1,60,000<br>c) None of the above<\/p>\n\n\n\n<p><strong>10. For a self-occupied house property occupied in 2017-18 for which housing loan was availed, the interest up to March 31, 2017 is 2,05,000 and thereafter the interest payable is 5000 per month, the deduction available under section 24 in respect of interest for the year ended March 31, 2020 is &#8230;&#8230;&#8230;.<\/strong><br>a) 1,01,000<br>b) 1,05,000<br>c) None of the above<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Answers:<\/strong> <span class=\"has-inline-color has-vivid-red-color\">1)Nil  2)payment<\/span>  <span class=\"has-inline-color has-vivid-red-color\">3)owner<\/span>  <span class=\"has-inline-color has-vivid-red-color\">4)owner<\/span>  <span class=\"has-inline-color has-vivid-red-color\">5)received, 30%  6)business or profession<\/span>  <span class=\"has-inline-color has-vivid-red-color\">7)30%<\/span>   <span class=\"has-inline-color has-vivid-red-color\">8)2,00,000<\/span>  <span class=\"has-inline-color has-vivid-red-color\">9)1,60,000<\/span>  <span class=\"has-inline-color has-vivid-red-color\">10)1,01,000<\/span><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>11. Municipal tax is deducted from &#8230;&#8230;&#8230;&#8230;&#8230;&#8230;.<\/strong><br>a) GAV<br>b) NAV<br>c) None of the above<\/p>\n\n\n\n<p><strong>12. Standard deduction is allowed on a notional basis of an amount equal to &#8230;&#8230;&#8230;..% of net annual value.<\/strong><br>a) 40%<br>b) 30%<br>c) None of the above<\/p>\n\n\n\n<p><strong><b>13. <\/b>Pre-construction interest on a house is allowed in &#8230;&#8230;&#8230;&#8230;.. equal installments commencing from the previous year in which property is acquired or constructed.<br><\/strong>a) Five <br>b) Six <br>c) Three <br>d) None of the above<\/p>\n\n\n\n<p><strong>14. Interest on loan for a self-occupied property is restricted to &#8230;&#8230;&#8230;&#8230;. or &#8230;&#8230;&#8230;&#8230;&#8230;. as applicable.<br><\/strong>a) 30,000 or 2,00,000 <br>b) 50,000 or 3,00,000<br>c) None of the above<\/p>\n\n\n\n<p><strong>15. Interest on borrowed money which is payable outside India shall be allowed as deduction if tax has been deducted at &#8230;&#8230;&#8230;&#8230;&#8230;.<\/strong><br>a) source <br>b) None of the above<\/p>\n\n\n\n<p><strong>16. The unrealized rent has been allowed to be deducted in determining the &#8230;&#8230;&#8230;&#8230;. u\/s 23 (i).<\/strong><br>a) Gross annual value <br>b) Net annual value<br>c) None of the above<\/p>\n\n\n\n<p><strong>17. Income from sub-letting is taxable under the head &#8230;&#8230;&#8230;&#8230;&#8230;&#8230;<\/strong><br>a) income from other sources <br>b) income from house property<br>c) None of the above<\/p>\n\n\n\n<p><strong>18. Interest accrued during the construction period preceding the year of completion of construction is termed as &#8230;&#8230;&#8230;&#8230;. interest.<br><\/strong>a) pre-construction <br>b) post-contruction<br>c) None of the above<\/p>\n\n\n\n<p><strong>19. Municipal valuation of the source is 1,20,000 and actful rent received is 1,25,000 fair Rent is 1,40,000. The gross annual value, in this case, shall be &#8230;&#8230;&#8230;. Assuming that reduction in rent is due to vacancy.<br><\/strong>a) 1,20,000 <br>b) 1,40,000 <br>c) 1,25,000 <br>d) None of the above.<\/p>\n\n\n\n<p><strong>20. Municipal valuation of the house is 1,00,000 fair rent of 1,20,000 and actual rent received or receivable is 1,40,000. The Gross Annual Value, in this case, shall be<br><\/strong>a) 1,00,000 <br>b) 1,20,000 <br>c) 1,40,000 <br>d) None of the above<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Answers:<\/strong> <span class=\"has-inline-color has-vivid-red-color\">11)gross annual value<\/span>  <span class=\"has-inline-color has-vivid-red-color\">12)30%<\/span>  <span class=\"has-inline-color has-vivid-red-color\">13)five<\/span>  <span class=\"has-inline-color has-vivid-red-color\">14)30,000 or 2,00,000<\/span>  <span class=\"has-inline-color has-vivid-red-color\">15)source<\/span>  <span class=\"has-inline-color has-vivid-red-color\">16)gross annual value<\/span>  <span class=\"has-inline-color has-vivid-red-color\">17)income from other sources<\/span> <span class=\"has-inline-color has-vivid-red-color\">18)pre-construction<\/span>  <span class=\"has-inline-color has-vivid-red-color\">19)1,25,000<\/span>  <span class=\"has-inline-color has-vivid-red-color\">20)1,40,000<\/span><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>21. Municipal valuation of the house is 1,20,000 fair rent of 1,40,000 and actual rent received or receivable is 1,25,000. The gross annual value, in this case, shall be assuming that a reduction in rent is not due to vacancy.<br><\/strong>a) 1,25,000 <br>b) 1,25,000 <br>c) 1,40,000 <br>d) None of the above<\/p>\n\n\n\n<p><strong>22. A house property with fair rent of 1,00,000 is neither let out nor self-occupied throughout the previous year. Its annual value shall be.<br><\/strong>a) 1,00,000 <br>b) Nil <br>c) 85,000 <br>d) None of the above<\/p>\n\n\n\n<p><strong>23. Mandan has taken a house on rent and sublets the same to Anil. Income from such house property shall be taxable under the head.<\/strong><br>a) Income from house property <br>b) Income from other sources <br>c) Business Income <br>d) None of the above<\/p>\n\n\n\n<p><strong>24. Un realized rent is deducted from. &#8230;&#8230;&#8230;&#8230;.<br><\/strong>a) Gross annual value <br>b) Net annual value <br>c) Municipal Value <br>d) None of the above<\/p>\n\n\n\n<p><strong><span>25. A property is owned by co-owners and it is self-occupied<\/span> house property. In this case,<span> interest on money borrowed after 1-4-1999 for acquiring the house shall be allowed.<\/span><br><\/strong>a) To the extent of Rs 2,00,000 as the case may be for the total property income. <br>b) To each co-owner, to the extent of Rs 2,00,000 as the case may be <br>c) No deduction of interest shall be allowed. <br>d) None of the above.<\/p>\n\n\n\n<p><strong>26. A has two house properties. Both are self-occupied. The Gross annual value of&#8230;&#8230;&#8230;&#8230;<\/strong><br>a) Both houses shall be nil <br>b) One house shall be nil <br>c) No house shall be nil <br>d) None of the above<\/p>\n\n\n\n<p><strong>27. An assessee has borrowed money for the purchase of a house property &amp; Interest is paid outside India. Such interest shall:<\/strong><br>a) Be allowed as deduction <br>b) Not to be allowed as deduction <br>c) Be allowed as deduction if the tax is deduction at source <br>d) None of the above<\/p>\n\n\n\n<p><strong>28. Municipal tax is deducted from &#8230;&#8230;&#8230;&#8230;&#8230;.<\/strong><br>a) Net Annual Value <br>b) Gross Annual Value <br>c) Municipal Valuation <br>d) None of the above<\/p>\n\n\n\n<p><strong>29. In case the property is owned by co-owners and it is self occupied by all co-owners . The annual value of &#8230;&#8230;&#8230;&#8230;&#8230;<br><\/strong>a) Such house property be nil <br>b) For each co-owners shall be nil <br>c) Only for co-owner will be nil <br>d) None of the above<\/p>\n\n\n\n<p><strong>30. Municipal Tax paid is allowed as a deduction for &#8230;&#8230;&#8230;&#8230;&#8230;.<br><\/strong>a) SOP only<br>b) LOP only<br>c) LOP and DLOP <br>d) All of the above<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Answer:<\/strong><span class=\"has-inline-color has-vivid-red-color\"><strong> <\/strong>21)1,40,000<\/span>  <span class=\"has-inline-color has-vivid-red-color\">22)1,00,000<\/span>  <span class=\"has-inline-color has-vivid-red-color\">23)Income from other sources  24)Gross annual value<\/span>  <span class=\"has-inline-color has-vivid-red-color\">25)To each co-owner, to the extent of Rs2,00,000 as the case may be<\/span>  <span class=\"has-inline-color has-vivid-red-color\">26)One house shall be nil<\/span>  <span class=\"has-inline-color has-vivid-red-color\">27)Be allowed as deduction if the tax is deduction at source<\/span>  <span class=\"has-inline-color has-vivid-red-color\">28)Gross Annual Value<\/span>  <span class=\"has-inline-color has-vivid-red-color\">29)For each co-owners shall be nil  30)LOP and DLOP<\/span><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>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<br><\/strong>a) 1,20,000 <br>b) Nil <br>c) 60,000 <br>d) None of the above<\/p>\n\n\n\n<p><strong>32. Unrealised rent is a deduction from&#8230;&#8230;&#8230;&#8230;&#8230;<br><\/strong>a) Gross annual value <br>b) Net annual value <br>c) Municipal Value <br>d) None of the above<\/p>\n\n\n\n<p><strong>33. A has two house properties. Both are self-occupied.<\/strong><br>a) Both houses are SOP <br>b) One is SOP and other is DLOP <br>c) One house is LOP <br>d) None of the above<\/p>\n\n\n\n<p><strong>34. In case the property is owned by co-owners and it is self occupied by all co-owners. The annual value of&#8230;&#8230;&#8230;&#8230;&#8230;.<br><\/strong>a) Such house property be nil <br>b) For each co-owners shall be nil <br>c) Only for co-owner will be nil <br>d) None of the above<\/p>\n\n\n\n<p><strong><span>35. Municipal Tax paid is allowed as a deduction for &#8230;&#8230;&#8230;&#8230;.<\/span><br><\/strong>a) SOP only <br>b) LOP only <br>c) LOP and DLOP <br>d) All of the above<\/p>\n\n\n\n<p><strong>36. <strong>Municipal tax is a deduction allowed on &#8230;&#8230;&#8230;&#8230;&#8230;..<\/strong><br><\/strong>a) Accrual basis <br>b) Payment basis <br>c) Both (a) &amp; (b) <br>d) None of the above<\/p>\n\n\n\n<p><strong>37. Municipal tax paid in respect of house property is allowed as deduction if paid by &#8230;&#8230;&#8230;&#8230;&#8230;..<\/strong><br>a) Tenant <br>b) Owner <br>c) Both (a) &amp; (b) <br>d) None of the above<\/p>\n\n\n\n<p><strong>38. Mr. Varun is the owner of two houses namely \u201cGenaraje\u201d at Mulund &amp; \u201cOm Sai\u201d at Thane which are self\u2013occupied. However, the apartment at \u201cOm Sai\u201d was let out for 2 months. The computation of this property would be &#8230;&#8230;&#8230;&#8230;.<\/strong><br>a) LOP<br>b) SOP<br>c) Partly LOP &amp; partly SOP <br>d) DLOP<\/p>\n\n\n\n<p><strong>39. Unadjusted loss from house property can be carried forward &amp; set off in subsequent years subject to limit of &#8230;&#8230;&#8230;&#8230;..<br><\/strong>a) 7 Years <br>b) 8 Years <br>c) 6 Years <br>d) 9 Years<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Answer:<\/strong><span class=\"has-inline-color has-vivid-red-color\"><strong> <\/strong>31)1,20,000<\/span> <span class=\"has-inline-color has-vivid-red-color\"> 32)Gross annual value<\/span>  <span class=\"has-inline-color has-vivid-red-color\">33)Both houses are SOP<\/span>  <span class=\"has-inline-color has-vivid-red-color\">34)For each co-owners shall be nil<\/span>  <span class=\"has-inline-color has-vivid-red-color\">35)LOP and DLOP <\/span> <span class=\"has-inline-color has-vivid-red-color\">36)Payment Basis <\/span> <span class=\"has-inline-color has-vivid-red-color\">37)Owner<\/span>  <span class=\"has-inline-color has-vivid-red-color\">38)LOP <\/span> <span class=\"has-inline-color has-vivid-red-color\">39)8 Years<\/span><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Learn the chapters on TYBCOM from our <a href=\"https:\/\/studio.youtube.com\/channel\/UCExY0hxogv75WdPK1MFS3fw\" data-type=\"link\" data-id=\"https:\/\/studio.youtube.com\/channel\/UCExY0hxogv75WdPK1MFS3fw\" target=\"_blank\" rel=\"noopener\">YouTube channel<\/a>.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":11470,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,7],"tags":[3888],"class_list":["post-11466","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bcom","category-degree-college","tag-income-from-house-property-mcq"],"_links":{"self":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/11466","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/comments?post=11466"}],"version-history":[{"count":5,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/11466\/revisions"}],"predecessor-version":[{"id":39750,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/posts\/11466\/revisions\/39750"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media\/11470"}],"wp:attachment":[{"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/media?parent=11466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/categories?post=11466"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scholarsclasses.com\/blog\/wp-json\/wp\/v2\/tags?post=11466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}