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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

A. Income from salary

B. Income from House Property

C. Income from Other Sources

D. Income from Business and Profession

Correct Answer : C.


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  1. According to Section 2(7) of Income Tax Act "Assessee" means
  2. Income of a minor will not be clubbed with his/her parent's income if
  3. The rates of Income Tax are specified in
  4. Which of the following income is / are exempt from tax?
  5. Tax' is imposed on a person by
  6. The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.
  7. If a self occupied property is converted into HUF property without adequate consideration then
  8. The TDS Certificate issued by an employer to his employees in case of salary income is
  9. TDS, in case of salary should be deposited within
  10. Amit has received Rs.25,000 from his former employer as arrear salary of 2004-05 previous year, Rs.85,000…
  11. If an assessee makes an absolute transfer of an asset without any consideration then any income from…
  12. Uncommuted pension received by a Government employee is fully exempt from tax.
  13. The first income tax act was introduced in the year
  14. The taxable Income computed should be rounded off to the nearest multiple of Rs.10.
  15. Income of minor child, if clubbed with income of parents, is exempt from tax up to
  16. Contribution to superannuation fund is
  17. Every employer should pay fringe benefit tax within
  18. PAN is necessary for the following assessees -
  19. For the purpose of Fringe Benefit Tax, the term 'Employer' does not include
  20. Assessment year 2006-07 commenced on
  21. If both parents are earning then income of a minor child will be clubbed with
  22. YoungStars, a club, lets out its furnished rooms solely to its members on regular basis. The income…
  23. The Income Tax Act 1961 came into force on
  24. The aggregate amount of deductions under chapter VI-A can not exceed
  25. Which one of the following taxes is not levied by the State Government?
  26. The amount of interest on borrowed capital allowable as deduction in case of a let out property is
  27. A company is considered to be resident if
  28. Any receipt of casual and non-recurring nature is known as casual income
  29. Interest on capital, borrowed on 10.10.2000, for self-occupied property is deductible upto a maximum…
  30. Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.