Deduction available under section 24(a) of Income Tax Act, 1961 is ___________ of Annual Value.

Correct option is C

Correct Answer:
(c) 30%

Explanation:

Under Section 24(a) of the Income Tax Act, 1961, a standard deduction of 30% of the Annual Value is allowed for income from house property. This deduction is available irrespective of actual expenses incurred for repairs or maintenance of the property.