Commerce · all questions

Income Tax and Corporate Tax
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Q161

Which of the following income is not chargeable under the head 'income from business and profession'?

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Q162

Interest under Section 201(1A) is payable by an assessee due to the following reason

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Q163

The return of income is to be furnished in:

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Q164

Which of the following is related to self-assessment?

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Q165

Determine the status of Banaras Hindu University (BHU):

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Q166

According to Income Tax Act, 1961, Salary is defined to include:
1. Wages, Annuity, Pension, Gratuity
2. Fees, Commission, Perquisites, Profits in lieu of or in addition to Salary or Wages
3. Advance of Salary, Leave Encashment
4. Annual accretion to the balance of Recognized Provident Fund, transferred balance in Recognized Provident Fund
5. Contribution by Central Government or any other employer to Employees Pension Account as referred in Section 80CCD

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Q167

For up to which of the following amounts, an individual can claim a deduction for the insurance of self, spouse, and dependent children?

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Q168

Mr. A resident of Mumbai gets a salary of Rs. 10,000 per month and house rent allowance of Rs. 3,000 per month. He has paid rent of Rs. 4,000 per month. Taxable house rent allowance (HRA) will be

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Q169

Which of the following sections of Income Tax Act, 1961 defines the Annual Value?

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Q170

Salary received by the manager of an agricultural farm is:

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Q171

Which two of the following are correct about TDS Certificates?
(1) TDS on non-salary payment Form 16
(2) TDS on salary payment Form 16A
(3) TDS on sale of property Form 16 B
(4) TDS on rent Form 16 C

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Q172

Methods of the tax planning are

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Q173

Which of the following statement is true?
1. The tax rate on STCG is 10%.
2. The tax rate on LTCG is 15%.
3. The tax rate on casual income is 30%.
4. The tax rate on dividend received from domestic company is 10%.

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Q174

Where a person derives income from a nation with which India does not have a DTAA, such person is given credit in India in the following manner.

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Q175

"Tax planning is a moral way of tax saving, in it a tax payer reduce tax liability honestly and it's a long-term process." This definition is given by

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Q176

The share of the partner in the income of the partnership firm will be

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Q177

Return of income is submitted under which of the following sections?

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Q178

To reduce tax liability, in case of income is high in relevant years, the pace of repair and renewal can be

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Q179

Assessment U/S 143 shall be computed from the end of relevant assessment year

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Q180

The due date of first installment of advance tax by assessee other than companies is:

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