Question

25. Annual Value of self occupied house will be:
(A) Municipal Valuation
(B) Fair Rental value
(C) Nil
(D) Municipal Valuation or Fair Rental value which ever is higher​

Answer 1

Explanation:

✳Answer✳

✳↕️↕️↕️✳

✳(B) Fair Rental value✳

Answer 2

c) nil

In the income tax return, under the 'Income from House Property' head, one needs to select the type of house property- self-occupied or let out. After selecting 'self-occupied', the annual value of the self-occupied house is taken as zero.