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

You can do it
  1. Mr. X has started has business from 1st Sept '05,and does not have any other source of income. His first…
  2. House Rent Allowance is exempt from tax
  3. Tax on fringe benefit has been introduced from the assessment year
  4. The rates of Income Tax are specified in
  5. The amount of interest on borrowed capital allowable as deduction in case of a let out property is
  6. The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.
  7. Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.
  8. Tax' is imposed on a person by
  9. Every employer should pay fringe benefit tax within
  10. Which of the following income is / are exempt from tax?
  11. The taxable Income computed should be rounded off to the nearest multiple of Rs.10.
  12. The rates of income tax are specified in
  13. If an assessee makes an absolute transfer of an asset without any consideration then any income from…
  14. Mr.Karan Kapoor's Taxable Income is Rs.10,00,000. The tax amount will be
  15. Income received or deemed to be received in India (whether accrued in or outside India) is taxable in…
  16. Contribution to superannuation fund is
  17. Income Tax Act 1922 is a "milestone" because
  18. Income of minor child, if clubbed with income of parents, is exempt from tax up to
  19. No interest is available if the amount of refund of income tax paid is less than
  20. Income of a minor will not be clubbed with his/her parent's income if
  21. For a senior citizen the amount of deduction U/s 80D available is
  22. A company is considered to be resident if
  23. Which one of the following taxes is not levied by the State Government?
  24. TDS, in case of salary should be deposited within
  25. PAN is necessary for the following assessees -
  26. Any receipt of casual and non-recurring nature is known as casual income
  27. The Income Tax Act 1961 came into force on
  28. YoungStars, a club, lets out its furnished rooms solely to its members on regular basis. The income…
  29. Acceleration of income will not be clubbed with the income of the assessee who transfers such income…
  30. The aggregate amount of deductions under chapter VI-A can not exceed