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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. The amount of interest on borrowed capital allowable as deduction in case of a let out property is
  2. When a person has paid the security transaction tax on transfer of equity shares he does not have to…
  3. YoungStars, a club, lets out its furnished rooms solely to its members on regular basis. The income…
  4. A company is considered to be resident if
  5. The rates of income tax are specified in
  6. Which of the following income is / are exempt from tax?
  7. The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.
  8. Every employer should pay fringe benefit tax within
  9. For the purpose of Fringe Benefit Tax, the term 'Employer' does not include
  10. Income of a minor will not be clubbed with his/her parent's income if
  11. Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.
  12. Interest on capital, borrowed on 10.10.2000, for self-occupied property is deductible upto a maximum…
  13. House Rent Allowance is exempt from tax
  14. The CBDT consists of
  15. If a self occupied property is converted into HUF property without adequate consideration then
  16. Income received or deemed to be received in India (whether accrued in or outside India) is taxable in…
  17. The aggregate amount of deductions under chapter VI-A can not exceed
  18. Mr.Karan Kapoor's Taxable Income is Rs.10,00,000. The tax amount will be
  19. Tax' is imposed on a person by
  20. The rates of Income Tax are specified in
  21. The term "Person" includes
  22. PAN is necessary for the following assessees -
  23. Acceleration of income will not be clubbed with the income of the assessee who transfers such income…
  24. The Income Tax Act, which is still in force in India, was enforced in
  25. Mr. X has started has business from 1st Sept '05,and does not have any other source of income. His first…
  26. Contribution to superannuation fund is
  27. Which one of the following taxes is not levied by the State Government?
  28. No interest is available if the amount of refund of income tax paid is less than
  29. Income of minor child, if clubbed with income of parents, is exempt from tax up to
  30. The TDS Certificate issued by an employer to his employees in case of salary income is