Income Tax Act 1922 is a "milestone" because

A. This Act introduced first the concept of aggregating incomes under different

B. It introduced the concept of "resident but not ordinarily resident"

C. This Act is still in force in India

D. Under this Act the administration was shifted completely from the provincial
Govt to the Central govt.

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  1. Interest on capital, borrowed on 10.10.2000, for self-occupied property is deductible upto a maximum…
  2. Income of a minor will not be clubbed with his/her parent's income if
  3. Uncommuted pension received by a Government employee is fully exempt from tax.
  4. A company is considered to be resident if
  5. Any receipt of casual and non-recurring nature is known as casual income
  6. Contribution to superannuation fund is
  7. TDS, in case of salary should be deposited within
  8. Amit has received Rs.25,000 from his former employer as arrear salary of 2004-05 previous year, Rs.85,000…
  9. When a person has paid the security transaction tax on transfer of equity shares he does not have to…
  10. Income of minor child, if clubbed with income of parents, is exempt from tax up to
  11. For a senior citizen the amount of deduction U/s 80D available is
  12. Income Tax Act 1922 is a "milestone" because
  13. The amount of interest on borrowed capital allowable as deduction in case of a let out property is
  14. The rates of Income Tax are specified in
  15. Income received or deemed to be received in India (whether accrued in or outside India) is taxable in…
  16. The first income tax act was introduced in the year
  17. Expected Rent can be determined in the following way
  18. Mr. X has started has business from 1st Sept '05,and does not have any other source of income. His first…
  19. If a self occupied property is converted into HUF property without adequate consideration then
  20. The term "Person" includes
  21. The Income Tax Act 1961 came into force on
  22. PAN is necessary for the following assessees -
  23. Which of the following statements is incorrect?
  24. The Income Tax Act, which is still in force in India, was enforced in
  25. House Rent Allowance is exempt from tax
  26. The TDS Certificate issued by an employer to his employees in case of salary income is
  27. The rates of income tax are specified in
  28. Which of the following income is / are exempt from tax?
  29. Which one of the following taxes is not levied by the State Government?
  30. The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.