Q501
Open questionIncome which accrue or arise outside India from a business controlled from India is taxable in case of
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Commerce · all questionsIncome Tax and Corporate Tax
Income Tax and Corporate Tax
practice.
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Q502
Open questionFirst instalment of advance tax payable falls due on or before
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Q503
Open questionIf the assesses let out the building or staff quarters to the employee of business, the rent collected from such employees is assessable as income from:
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Q504
Open questionSection 80L deduction has been abolished-
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Q505
Open questionRam is super senior citizen and non-resident Indian. The Income Tax exemption limit for Ram is:
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Q506
Open questionConsider the following statements.
1. From 1st June, 2006 onwards, the assessing officer has the power, inter alia, to allot PAN to any person by whom no tax is payable.
2. A tax return preparer can be an individual.
3. CBDT conducts various courses at different computer centres of the department to build up/in house expertise in the field of computers at various operational levels.
Which of the statements given above is/are correct
1. From 1st June, 2006 onwards, the assessing officer has the power, inter alia, to allot PAN to any person by whom no tax is payable.
2. A tax return preparer can be an individual.
3. CBDT conducts various courses at different computer centres of the department to build up/in house expertise in the field of computers at various operational levels.
Which of the statements given above is/are correct
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Q507
Open questionWhich among the following deduction is available only to disabled persons:
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Q508
Open questionWhich of the following is not the right way of defining types of tax planning?
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Q509
Open questionIn Income Tax Act, 1961, deduction under sections 80C to 80U cannot exceed . . . . . . . .
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Q510
Open questionAs per which of the following sections of the Income tax Act, 1961, every person who deducts or collects tax at source has to apply for the allotment of TAN.
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Q511
Open questionIf assessee is a government servant or an employee in company, cooperative society or university etc, and entitled for relief under Section 89, then he may furnish to his employer such particular in form
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Q512
Open questionThe death-cum-retirement gratuity received by the government employee or of local authority is:
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Q513
Open questionA tax return preparer can be an individual, other than
1. any officer of a scheduled bank with which the assessee maintains a current account or has other regular dealings.
2. any legal practitioner, who is entitled to practice in any Civil Court in India.
3. a Chartered Accountant.
4. an employee of the 'specified class or classes of persons'.
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1. any officer of a scheduled bank with which the assessee maintains a current account or has other regular dealings.
2. any legal practitioner, who is entitled to practice in any Civil Court in India.
3. a Chartered Accountant.
4. an employee of the 'specified class or classes of persons'.
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Q514
Open questionWhich Section of the Income Tax Act relates to claim deduction for premium paid for Health Insurance?
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Q515
Open questionWhich of the following donations is eligible for 100% deduction?
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Q516
Open questionIncome from house property owned by trade union is exempt under
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Q517
Open questionAn individual is considered as an owner of the house property for the purpose of charging tax to:
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Q518
Open questionWhich of the expenses on scientific research related to the business are allowed a deduction in the PY of commencement of the business, although incurred within 2 years immediately before the commencement of the business?
1. Any revenue expense on scientific research.
2. Payment of salary to employee engaged in scientific research.
3. Purchase of material used in scientific research.
4. Repair and maintenance expense on the asset acquired for scientific research.
5. Land acquired for scientific research.
6. Building constructed for scientific research.
7. Plant and machinery acquired for scientific research.
Select the correct answer using the options given below
1. Any revenue expense on scientific research.
2. Payment of salary to employee engaged in scientific research.
3. Purchase of material used in scientific research.
4. Repair and maintenance expense on the asset acquired for scientific research.
5. Land acquired for scientific research.
6. Building constructed for scientific research.
7. Plant and machinery acquired for scientific research.
Select the correct answer using the options given below
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Q519
Open questionWhich of the following statements is/are correct?
1. An assessee may enjoy different residential status for different assessment year.
2. It is not necessary that a person, who is resident in India, cannot become resident in any other country for the same assessment year.
3. Where a person is in India only for a part of a day, it will be calculated as one complete day.
Select the correct answer using the options given below
1. An assessee may enjoy different residential status for different assessment year.
2. It is not necessary that a person, who is resident in India, cannot become resident in any other country for the same assessment year.
3. Where a person is in India only for a part of a day, it will be calculated as one complete day.
Select the correct answer using the options given below
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Q520
Open questionIf the asset is put to use for lessthan 180 days in the year in which it is acquired, the rate of depreciation will be
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