Capital assets like equity shares which are listed in a recognized stock exchange in India will be treated as short-term capital assets if they are held by the taxpayer for a period of not more than following months immediately preceding the date of its transfer.
Consider the following statements.
1. To file return of income on prescribed date is covered under tax management.
2. Tax planning is always possible without tax management.
3. Tax management is done prior to tax planning.
Which of the statement(s) given above is/are correct?
As per the Income Tax Act, 1961 for the assessment year 2015-16, a deduction u/s 80 QQB for authors of books of literacy, artistic or scientific nature is allowed upto
Which of the following income are taxable under income tax?
1. Short-term capital gain
2. Providend fund receipt
3. Capital gain on sale of shares under Section 10(38)
4. Income of local authority
5. Interest received on government securities
6. Money found on the road
Select the correct answer using the options given below
Calculate the Gross Annual Value from the following details:
Municipal Value - Rs. 45,000
Fair Rental Value - Rs. 50,000
Standard Rent - Rs. 48,000
Actual Rent - Rs. 42,000
In case where profits are insufficient to absorb brought forward losses, current depreciation and current business losses, the same should be deducted in the order
1. Current scientific research expenditure [Section 35(1)].
2. Current depreciation [Section 32(1)].
3. Brought forward business losses [Section 72(1)].
4. Unabsorbed depreciation [Section 32(2)].
5. Unabsorbed investment allowance [Section 32A(3)(b)].
6. Unabsorbed development allowance [Section 33A(2)(b)].
7. Unabsorbed family planning promotion expenditure [Section 36(1)(I)].
8. Unabsorbed scientific research capital expenditure [Section 35(4)].
