Acceleration of income will not be clubbed with the income of the assessee who transfers such income to some other person.

A. True

B. False

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  1. When a person has paid the security transaction tax on transfer of equity shares he does not have to…
  2. YoungStars, a club, lets out its furnished rooms solely to its members on regular basis. The income…
  3. The apex body of Income Tax Department. is
  4. The first income tax act was introduced in the year
  5. The term "Person" includes
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  7. Income Tax Act 1922 is a "milestone" because
  8. Amit has received Rs.25,000 from his former employer as arrear salary of 2004-05 previous year, Rs.85,000…
  9. The Income Tax Act 1961 came into force on
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  11. Expected Rent can be determined in the following way
  12. The income of previous year of an assessee is taxed during the following assessment year
  13. Tax on fringe benefit has been introduced from the assessment year
  14. Uncommuted pension received by a Government employee is fully exempt from tax.
  15. TDS, in case of salary should be deposited within
  16. Assessment year 2006-07 commenced on
  17. If a self occupied property is converted into HUF property without adequate consideration then
  18. The amount of interest on borrowed capital allowable as deduction in case of a let out property is
  19. Sec. 234A deals with
  20. Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.
  21. The TDS Certificate issued by an employer to his employees in case of salary income is
  22. PAN is necessary for the following assessees -
  23. Income received or deemed to be received in India (whether accrued in or outside India) is taxable in…
  24. The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.
  25. Income of minor child, if clubbed with income of parents, is exempt from tax up to
  26. For a senior citizen the amount of deduction U/s 80D available is
  27. The Income Tax Act, which is still in force in India, was enforced in
  28. The aggregate income of Mr. Tanmoy under the different heads of income is Rs.1, 50,000. He will get…
  29. If both parents are earning then income of a minor child will be clubbed with
  30. Mr. X has started has business from 1st Sept '05,and does not have any other source of income. His first…