Which of the following statements is incorrect?

A. Income tax is a direct tax

B. Wealth tax is a central govt. tax

C. Excise duty is an example of direct tax.

D. Entry tax is a state govt. tax.

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  1. Income Tax Act 1922 is a "milestone" because
  2. The TDS Certificate issued by an employer to his employees in case of salary income is
  3. The taxable Income computed should be rounded off to the nearest multiple of Rs.10.
  4. The aggregate income of Mr. Tanmoy under the different heads of income is Rs.1, 50,000. He will get…
  5. Every employer should pay fringe benefit tax within
  6. The aggregate amount of deductions under chapter VI-A can not exceed
  7. The rates of Income Tax are specified in
  8. Which one of the following taxes is not levied by the State Government?
  9. Interest on capital, borrowed on 10.10.2000, for self-occupied property is deductible upto a maximum…
  10. YoungStars, a club, lets out its furnished rooms solely to its members on regular basis. The income…
  11. Which of the following statements is incorrect?
  12. The apex body of Income Tax Department. is
  13. Mr. X has started has business from 1st Sept '05,and does not have any other source of income. His first…
  14. The CBDT consists of
  15. Sec. 234A deals with
  16. TDS, in case of salary should be deposited within
  17. The first income tax act was introduced in the year
  18. Expected Rent can be determined in the following way
  19. The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.
  20. Contribution to superannuation fund is
  21. Tax on fringe benefit has been introduced from the assessment year
  22. No interest is available if the amount of refund of income tax paid is less than
  23. If both parents are earning then income of a minor child will be clubbed with
  24. The amount of interest on borrowed capital allowable as deduction in case of a let out property is
  25. The Income Tax Act 1961 came into force on
  26. House Rent Allowance is exempt from tax
  27. The income of previous year of an assessee is taxed during the following assessment year
  28. Acceleration of income will not be clubbed with the income of the assessee who transfers such income…
  29. The term "Person" includes
  30. Income of minor child, if clubbed with income of parents, is exempt from tax up to