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AAFM GLO_CWM_LVL_1 Exam - Topic 3 Question 101 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam
Question #: 101
Topic #: 3
[All GLO_CWM_LVL_1 Questions]

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

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Suggested Answer: C

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

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Giovanna
3 months ago
D makes sense, none of these seem untrue to me!
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Virgilio
3 months ago
C sounds right, can't use it for business if you want to tax it.
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Tabetha
3 months ago
A is definitely true, buildings and land are essential.
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Cammy
3 months ago
Wait, are you saying the owner doesn't have to be the assessed? That seems off.
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Markus
3 months ago
I think B is misleading, the owner should be the assessed.
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Gwenn
4 months ago
I’m leaning towards option D being the answer since it says "none of the above," but I’m not completely confident about it.
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Marshall
4 months ago
I recall a practice question where we had to identify conditions for taxing house property, and I think option A was definitely one of them.
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Thaddeus
4 months ago
I’m not entirely sure, but I feel like option C might be correct since properties used for business can have different tax implications.
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Audra
4 months ago
I think option B is tricky because I remember discussing how ownership is usually a key factor in property taxation.
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Kathrine
4 months ago
This question is testing my understanding of the tax laws. I'll need to carefully read each option and think about which one is not true.
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Dalene
5 months ago
I'm confident I can answer this correctly. The conditions for taxing income from house property are pretty clear to me.
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Caprice
5 months ago
Okay, I remember learning about this in class. The key is to focus on the conditions that are "not true" in respect of the taxation.
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Herminia
5 months ago
Hmm, I'm a bit unsure about the conditions for taxing income from house property. Let me think this through carefully.
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Kenneth
5 months ago
This question seems straightforward. I think I can eliminate a few options and narrow it down.
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Marti
11 months ago
I'm leaning towards B. The owner doesn't have to be the assessed, that's an interesting twist.
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Steffanie
9 months ago
D) None of Above
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Isabelle
9 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.
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Carlene
9 months ago
B) The assessed may or may not be the owner of such house property
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Oretha
9 months ago
A) The property must consist of buildings and land appurtenant there to
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Linette
11 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'?
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Walton
11 months ago
Hmm, I think D is the correct answer. None of the above conditions seem to be false.
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Stevie
10 months ago
User 2: Yeah, none of the above conditions seem to be false.
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Weldon
10 months ago
User 1: I think D is the correct answer.
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Sonia
11 months ago
Hmm, that makes sense. I see your point.
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Gearldine
11 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'.
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Dexter
10 months ago
D) None of Above
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Adolph
10 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.
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Ollie
11 months ago
B) The assessed may or may not be the owner of such house property
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Avery
11 months ago
A) The property must consist of buildings and land appurtenant there to
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Margery
11 months ago
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
11 months ago
I think the answer is D) None of Above.
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