Related Questions
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4
Tax on fringe benefit has been introduced from the assessment year
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4
Income Tax Act 1922 is a "milestone" because
A. This Act introduced first the concept of aggregating incomes under different
Heads
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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4
No interest is available if the amount of refund of income tax paid is less than
B. 50% of total tax assessed
C. 10% of total tax assessed
D. 100% of total tax assessed
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4
Interest on capital, borrowed on 10.10.2000, for self-occupied property is deductible upto a maximum amount of
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4
Income received or deemed to be received in India (whether accrued in or outside India) is taxable in case of
B. Not Ordinarily Resident
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4
Sec. 234A deals with
A. Interest in default in furnishing return of income
B. Interest for concealment of particulars
C. Interest for default in payment of advance tax
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4
For a senior citizen the amount of deduction U/s 80D available is
A. The amount of premium paid or Rs.10,000 whichever is higher
B. The actual amount of premium paid or Rs.10,000 whichever is lower
C. The actual amount of premium paid or Rs.15,000 whichever is lower
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4
The term "Person" includes
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4
For the purpose of Fringe Benefit Tax, the term 'Employer' does not include
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4
Contribution to superannuation fund is
A. Treated as fringe benefit
B. Not considered as fringe benefit
C. Depends on the amount of contribution
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4
The rates of Income Tax are specified in
B. Income Tax Rules, 1962
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4
Which one of the following taxes is not levied by the State Government?
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4
Acceleration of income will not be clubbed with the income of the assessee who transfers such income to some other person.
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4
A company is considered to be resident if
A. It is an Indian Company
B. During the previous year it's control and management is situated wholly in India
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4
Income of a minor will not be clubbed with his/her parent's income if
A. Such income is earned by that child by applying his/her physical labour,talent or any specialized knowledge
C. Parents are handicapped
D. the child does not give her consent
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4
Tax' is imposed on a person by
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4
The Income Tax Act 1961 came into force on
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4
House Rent Allowance is exempt from tax
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4
The apex body of Income Tax Department. is
A. Finance Ministry of Central Govt.
B. Central Govt. of India.
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4
Amit has received Rs.25,000 from his former employer as arrear salary of 2004-05 previous year, Rs.85,000 from present employer and Rs.50,000 from the company he is going to join from 01.04.2006, during the previous year 2005-06. The total amount of salar
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4
The Income Tax Act, which is still in force in India, was enforced in
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4
The aggregate income of Mr. Tanmoy under the different heads of income is Rs.1, 50,000. He will get a deduction of Rs.30, 000 under sections 80C to 80U.His Gross Total Income and Net Total income are
A. Rs.150000 & 30000 respectively
B. Rs.150000 & 120000 respectively
C. Rs.120000 & 30000 respectively
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4
Every employer should pay fringe benefit tax within
A. One month from the end of each quarter
B. One week from the end of each quarter
C. 15 days from the end of each quarter
D. Last day of the quarter
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4
Assessment year 2006-07 commenced on
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4
Income of minor child, if clubbed with income of parents, is exempt from tax up to
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4
If both parents are earning then income of a minor child will be clubbed with
A. Income of parent having higher income
B. Proportionately with both parent's income
C. Income of parent having lower income
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4
YoungStars, a club, lets out its furnished rooms solely to its members on regular basis. The income earned by the club from such letting-out will be chargeable under the head
B. Income from House Property
C. Income from Other Sources
D. Income from Business and Profession
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4
Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.
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4
The first income tax act was introduced in the year
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The CBDT consists of
A. One director & Two Members
B. One President & Seven Members
C. One Chairman & Six Members