The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.

A. True

B. False

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  1. A company is considered to be resident if
  2. Acceleration of income will not be clubbed with the income of the assessee who transfers such income…
  3. For a senior citizen the amount of deduction U/s 80D available is
  4. Interest on capital, borrowed on 10.10.2000, for self-occupied property is deductible upto a maximum…
  5. Income Tax Act 1922 is a "milestone" because
  6. Contribution to superannuation fund is
  7. Tax on fringe benefit has been introduced from the assessment year
  8. TDS, in case of salary should be deposited within
  9. Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.
  10. No interest is available if the amount of refund of income tax paid is less than
  11. Which one of the following taxes is not levied by the State Government?
  12. Which of the following statements is incorrect?
  13. The income of previous year of an assessee is taxed during the following assessment year
  14. The CBDT consists of
  15. Income received or deemed to be received in India (whether accrued in or outside India) is taxable in…
  16. Amit has received Rs.25,000 from his former employer as arrear salary of 2004-05 previous year, Rs.85,000…
  17. The apex body of Income Tax Department. is
  18. The Income Tax Act 1961 came into force on
  19. If an assessee makes an absolute transfer of an asset without any consideration then any income from…
  20. Tax' is imposed on a person by
  21. The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.
  22. The first income tax act was introduced in the year
  23. Mr.Karan Kapoor's Taxable Income is Rs.10,00,000. The tax amount will be
  24. Mr. X has started has business from 1st Sept '05,and does not have any other source of income. His first…
  25. The taxable Income computed should be rounded off to the nearest multiple of Rs.10.
  26. According to Section 2(7) of Income Tax Act "Assessee" means
  27. The aggregate amount of deductions under chapter VI-A can not exceed
  28. If a self occupied property is converted into HUF property without adequate consideration then
  29. Which of the following income is / are exempt from tax?
  30. Assessment year 2006-07 commenced on