Tax Book 2023

Income From Property Chapter- 08

MULTIPLE CHOICE QUESTIONS

Q. 1 ___ is taken as rent chargeable to tax.

(a) Actual rent

(b) Fair market rent

(c) Higher of FMR and actual rent plus 1/10th of non-adjustable advance, if any

(d) Lower of FMR and actual rent

Q. 2 ____ part of advance not adjustable against rent is charged to tax every year.

(a) 10%

(b) 5%

(c) 12%

(d) 50%

Q. 3 Advances adjustable against rent_____ the future rent chargeable to tax.

(a) Increase

(b) Decrease

(c) has no effect

Q. 4 The amount received by employee to vacate the possession less amount for taking the possession is
charged to tax under__ in ten equal proportions in the succeeding 10 years.
(a) Income from other sources
(b) Property income.
(c) Business income
(d) none of these

Q. 5 The income of the persons having definite share in a joint property shall be taxed_____.

(a) As association of person

(b) the respective share in the hands of the members

(c) none of the above

Q. 6 Where the rent includes charges for utilities, then __should be charged to tax under income
from property.
(a) Whole of the rent
(b) Rent less amount for utilities
(c) Rent less expenditure for utilities.
(d) (b) or (c)

Q. 7 The property income for an individual is taxable __

(a) Under SBI

(b) Under NTR

(c) under NTR or SBI

(d) None of above

Q. 8 An individual will not pay tax if his income under the head property is_____.

(a) Zero

(b) Rs. 400 ,000