Exam 2: Taxation and Exemptions Related to House Property and Employee Benefits

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Municipal valuation of the house is Rs.1,00,000 fair rent Rs.1,20,000, fair rent Rs.1,20,000, standard rent Rs.1,10,000 and actual rent received or receivable is Rs.1,40,000. The gross annual value in this case shall be ____________

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Un -commuted pension received by a Government employee is ____________

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Entertainment allowance in case of government employee is _________________

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Compensation received on voluntary retirement is exempt under sec.10 (10c) to the maximum extent of ___________

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Dhanesh is a member of house building cooperative society. The society is the owner of the flats constructed by it. One of the flats is allotted to Dhanesh. The income from that flat will be assesses in the hands of ____________

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