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

Limited Time Offer

25%

Off

Get Premium GLO_CWM_LVL_1 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Marti

2 months ago

I'm leaning towards B. The owner doesn't have to be the assessed, that's an interesting twist.

upvoted 0 times

Steffanie

2 days ago

D) None of Above

upvoted 0 times

...

Isabelle

4 days ago

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.

upvoted 0 times

...

Carlene

9 days ago

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

upvoted 0 times

...

Oretha

10 days ago

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

upvoted 0 times

...

Linette

2 months ago

Ha! These tax questions are a real headache. Why can't they just make it simple - 'pay your taxes and be done with it'?

upvoted 0 times

...

Walton

2 months ago

Hmm, I think D is the correct answer. None of the above conditions seem to be false.

upvoted 0 times

Stevie

2 months ago

User 2: Yeah, none of the above conditions seem to be false.

upvoted 0 times

...

Weldon

2 months ago

User 1: I think D is the correct answer.

upvoted 0 times

...

Sonia

2 months ago

Hmm, that makes sense. I see your point.

upvoted 0 times

...

Gearldine

2 months 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'.

upvoted 0 times

Dexter

28 days ago

D) None of Above

upvoted 0 times

...

Adolph

1 months ago

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.

upvoted 0 times

...

Ollie

2 months ago

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

upvoted 0 times

...

Avery

2 months ago

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

upvoted 0 times

...

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.

upvoted 0 times

...

Sonia

3 months ago

I think the answer is D) None of Above.

upvoted 0 times

...

AAFM Exam GLO_CWM_LVL_1 Topic 3 Question 101 Discussion

Contribute your Thoughts:

Marti

Steffanie

Isabelle

Carlene

Oretha

Linette

Walton

Stevie

Weldon

Sonia

Gearldine

Dexter

Adolph

Ollie

Avery

Margery

Sonia