CA Inter Income Tax MCQs – Income From House Property

Question 1

Mr. A , is the owner  of  a building. Such building is leased out by Mr. A from  which he earns a rental income of Rs. 20,000 per month. The income from such property would be chargeable under the head  ‘’Income from house property’’ because : –

a. The property consists of buildings and land appurtenant thereto ;

b. Mr. A is  the owner of such property ;

c. Both A and B ;

d. None of the above.

Question 2

A, carries on business in a premise, comprising of building which is owned by him and which is used for the purpose of carrying on business or profession whose profits are chargeable to tax. The deemed value of income from such property would be chargeable to Tax under the head : –

a. Income from house property

b. Income from salaries

c. Income from other sources

d. None of the above


Question 3

A,  owned certain vacant   land which he  had let out to Ryder sports Academy for carrying  out, certain sports activity . He earned Rs. 50,000 per month from such letting out. The income would be taxable under the head Income from House Property would be : –

a. Rs. 6,00,000

b. Rs. Nil

c. Rs. 4,20,000

d. Rs. 3,00,000


Question 4

Ajay’s minor daughter was married to a  renowned professional. When she came after marriage, he  transferred his house property to his minor married daughter for Rs. 5,00,000 when the fair value of such property was Rs.50,00,000 . Who will be considered as the owner of such house property for tax purpose ?

a) Ajay

b) Minor married daughter

c) Both A & B equally

d) None of the above

Question 5

Sanjay, did not had a very understanding wife, and due to prolonged differences of opinion and fights on a regular basis, they decided to live apart. As a precondition for such an agreement to live apart, Sanjay transferred  his house property to his spouse, which   had a fair value of  Rs.50,00,000 . The property yielded a rent of Rs. 3,00,000 after the date of transfer. The income taxable in the hands of Sanjay on account of such property before any deductions would be : –

a. Rs. 3,00,000

b. Rs. Nil

c. Rs. 1,50,000

d. Rs. 2,10,000


Question 6

Shyam is engaged in the business of letting out residential flats to various tenants on a monthly basis. He earns a monthly income of Rs. 6,00,000 from such flats. Income which is chargeable to Tax under the head   Income from House Property in the case of Shyam before any deductions would be : –

a. Rs. 72,00,000

b. Rs. Nil , as it is income from profits and gains of Business and profession.

c. Rs. 60,00,000

d. Rs. 65,00,000

Video Explanation

CA Inter Income Tax MCQs


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