AAFM Exam GLO_CWM_LVL_1 Topic 3 Question 101 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam

Question #: 101
Topic #: 3

Which of the following is not true in respect of the conditions essential for taxing income under the head income from House Property?

AThe property must consist of buildings and land appurtenant there to

BThe assessed may or may not be the owner of such house property

CThe property may be used for any purpose, but it should not be used by the owner for the purpose of any business or profession carried on him, the profits of which are chargeable to tax.

DNone of the above

Show Suggested Answer

Suggested Answer: C

by Jonell at Mar 19, 2025, 09:38 AM

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18 days ago

I'm pretty sure it's C. Using the property for business or profession is not allowed under the head 'income from house property'.

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Ollie

2 days ago

B) The assessed may or may not be the owner of such house property

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Avery

4 days ago

A) The property must consist of buildings and land appurtenant there to

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I disagree, I believe the correct answer is C) The property may be used for any purpose, but it should not be used by the owner for the purpose of any business or profession carried on him, the profits of which are chargeable to tax.

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Sonia

24 days ago

I think the answer is D) None of Above.

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AAFM Exam GLO_CWM_LVL_1 Topic 3 Question 101 Discussion

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