The taxable Income computed should be rounded off to the nearest multiple of Rs.10.

A. True

B. False

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  1. Tax' is imposed on a person by
  2. The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.
  3. Amit has received Rs.25,000 from his former employer as arrear salary of 2004-05 previous year, Rs.85,000…
  4. Which of the following statements is incorrect?
  5. Tax on fringe benefit has been introduced from the assessment year
  6. The aggregate income of Mr. Tanmoy under the different heads of income is Rs.1, 50,000. He will get…
  7. The term "Person" includes
  8. The rates of income tax are specified in
  9. The aggregate amount of deductions under chapter VI-A can not exceed
  10. The CBDT consists of
  11. The income of previous year of an assessee is taxed during the following assessment year
  12. For the purpose of Fringe Benefit Tax, the term 'Employer' does not include
  13. When a person has paid the security transaction tax on transfer of equity shares he does not have to…
  14. TDS, in case of salary should be deposited within
  15. The amount of interest on borrowed capital allowable as deduction in case of a let out property is
  16. A company is considered to be resident if
  17. YoungStars, a club, lets out its furnished rooms solely to its members on regular basis. The income…
  18. If an assessee makes an absolute transfer of an asset without any consideration then any income from…
  19. Income of a minor will not be clubbed with his/her parent's income if
  20. Which of the following income is / are exempt from tax?
  21. Which one of the following taxes is not levied by the State Government?
  22. The Income Tax Act, which is still in force in India, was enforced in
  23. The TDS Certificate issued by an employer to his employees in case of salary income is
  24. Expected Rent can be determined in the following way
  25. Mr.Karan Kapoor's Taxable Income is Rs.10,00,000. The tax amount will be
  26. Acceleration of income will not be clubbed with the income of the assessee who transfers such income…
  27. The apex body of Income Tax Department. is
  28. Any receipt of casual and non-recurring nature is known as casual income
  29. The first income tax act was introduced in the year
  30. Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.