INCOME FROM PROPERTY
- Date December 16, 2021
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Question 1 of 25
1. Question
Rent is taxed on _____ basis.
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Question 2 of 25
2. Question
Rent is taxable under the ______.
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Question 3 of 25
3. Question
Rent for the purpose of income of from property does not include rent in respect of the lease of building together with
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Question 4 of 25
4. Question
If the person receiving the rent is not owner of property, the rental income will be included under the head:
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Question 5 of 25
5. Question
If the rent received or receivable by a person is less than fair market rent for the property
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Question 6 of 25
6. Question
Section ________ of the ITO 2001 deal with Income from Property.
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Question 7 of 25
7. Question
No tax is leviable on Income from Property if it does not exceed _____ and the person does not derive any other income
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Question 8 of 25
8. Question
Income from Property derived by a company will be treated under the head _____.
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Question 9 of 25
9. Question
In computing the income of only a _____ chargeable to tax under income from property deduction for certain expenditures are allowed.
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Question 10 of 25
10. Question
In respect of repairs to a building, a deduction allowance equal to _____ of the rent chargeable to tax in respect of the building for year is allowed
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Question 11 of 25
11. Question
Any premium paid or payable by the company in the year to insure the building against the risk of damage or destruction is _______ as deduction while computing the income from property.
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Question 12 of 25
12. Question
Any local rate, tax (except tax paid under ITO 2001) charge or cess in respect of the property is allowed as deduction from the head Income from Property in the case of _______.
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Question 13 of 25
13. Question
A _____ paid by the company in respect of property is also deductible allowance while computing the Income from Property.
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Question 14 of 25
14. Question
If the property is subject to mortgage, the amount of profit or ______ as deductible allowance while computing the Income from Property
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Question 15 of 25
15. Question
Administration and collection charges are allowed as admissible deduction to the extent of _____ of the rent received or receivable
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Question 16 of 25
16. Question
Any expenditure incurred by the company for legal services acquired to defend the company’s title to the property or any suit connected with the property in a court is ______ as deductible expenditure while computing the Income from Property.
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Question 17 of 25
17. Question
Irrecoverable rent is an admissible deduction allowance where:
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Question 18 of 25
18. Question
If an unpaid rent is recovered later, it is _______
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Question 19 of 25
19. Question
Unpaid amount of liablity claimed as deduction is liable to be added into income form property after ______ years.
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Question 20 of 25
20. Question
An expenditure allowed as deductions shall not be claimed as deduction:
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Question 21 of 25
21. Question
The provision of Section _____ will also apply to deductions claimed under the head income form property.
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Question 22 of 25
22. Question
Non-adjustable amounts (Advances) received in relation to a building shall be treated as rent chargeable to tax under the Income from Property in the tax year in which it was received and the following nine tax years in _____
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Question 23 of 25
23. Question
In case a tenant vacates the building before the expiry of ten years and the non-adjustable amount is returned to him, ______ will b emade for that tax year and there after
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Question 24 of 25
24. Question
Any Income of _____ under the head Income form Property is exempt from tax.
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Question 25 of 25
25. Question
If a property is co-owned by two person and their shares are definite and ascertainable, such definite and ascertainable, such persons:
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