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.

You can do it
  1. Tax on fringe benefit has been introduced from the assessment year
  2. Income received or deemed to be received in India (whether accrued in or outside India) is taxable in…
  3. Which of the following statements is incorrect?
  4. Expected Rent can be determined in the following way
  5. The apex body of Income Tax Department. is
  6. The taxable Income computed should be rounded off to the nearest multiple of Rs.10.
  7. The TDS Certificate issued by an employer to his employees in case of salary income is
  8. The aggregate amount of deductions under chapter VI-A can not exceed
  9. A company is considered to be resident if
  10. For a senior citizen the amount of deduction U/s 80D available is
  11. PAN is necessary for the following assessees -
  12. Contribution to superannuation fund is
  13. The rates of income tax are specified in
  14. According to Section 2(7) of Income Tax Act "Assessee" means
  15. The rates of Income Tax are specified in
  16. Income of a minor will not be clubbed with his/her parent's income if
  17. The aggregate income of Mr. Tanmoy under the different heads of income is Rs.1, 50,000. He will get…
  18. Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.
  19. Acceleration of income will not be clubbed with the income of the assessee who transfers such income…
  20. The CBDT consists of
  21. If both parents are earning then income of a minor child will be clubbed with
  22. TDS, in case of salary should be deposited within
  23. Assessment year 2006-07 commenced on
  24. YoungStars, a club, lets out its furnished rooms solely to its members on regular basis. The income…
  25. Mr.Karan Kapoor's Taxable Income is Rs.10,00,000. The tax amount will be
  26. The amount of interest on borrowed capital allowable as deduction in case of a let out property is
  27. Interest on capital, borrowed on 10.10.2000, for self-occupied property is deductible upto a maximum…
  28. The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.
  29. If an assessee makes an absolute transfer of an asset without any consideration then any income from…
  30. No interest is available if the amount of refund of income tax paid is less than