Question

(1) The rate of standard deduction from income of a rented house
is
(A) 25%
(B) 33%
(C) 30%
(D) None​

Answer 1

Answer:

Standard deduction: It allows the assessee a deduction of 30% of the 'Net Annual Value'. Gross Annual Value of a property is the value at which the property might reasonably be expected to be let from year to year. It is more like a notional rent which one could have earned in case property had been let out.

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Answer 2

Answer:

c ) thirty percent. . . . . . . .