Income Tax And Corporate Tax - Study Mode
[#556] Deduction in respect of contribution to certain pension fund under Section 80CCC is available
Correct Answer
(A) only to individual, even to non-resident individual
[#557] In which of the cases the amount withdraw form Site Restoration Account shall not be taxable? 1. Amount withdrawn for the purpose specified in the scheme 2. Closure of business 3. Death of an assessee 4. Partition of HUF 5. Dissolution of a firm 6. Liquidation of a company Select the correct answer using the options given below
Correct Answer
(A) Only 1
[#558] The assessee lets on hire machinery, plant or furniture belonging to him and also building and the letting of the buildings is inseparable from the letting of the said machinery, plant and furniture, the income from such letting is chargeable to tax under the head:
Correct Answer
(C) Income from Other Sources
[#559] Correct serial of head of income in Income Tax Law is:
Correct Answer
(C) Salary, house property, business
[#560] Which of the following conditions are satisfied in case of sale of depreciable assets, in which assessee has claimed depreciation and sale was in even of discontinuance of business? 1. The difference between the net consideration and WDV shall be treated as short-term capital gain/loss. 2. If the difference between the net consideration and WDV results in gain, then it will be liable to tax. 3. If the difference between the net consideration and WDV results in loss, then it will set-off against any head. Select the correct answer using the options given below
Correct Answer
(B) Both 1 and 2