39.
The answer is: C
Explanation
The correct option is C: 3/10 of Annual Value.
This is because the standard deduction under section 24 of the Income Tax Act is 30% of the net annual value of the property. This deduction is allowed irrespective of the actual expenditure on the property, such as repairs, insurance, electricity, water supply, etc. For a self-occupied property, the net annual value is nil, so the standard deduction is also nil. For a let-out or deemed to be let-out property, the net annual value is the rent received or the reasonable rent of a similar property, whichever is higher. The standard deduction is 30% of this amount.