Income Tax And Corporate Tax - Study Mode
[#571] An assesse resides in his own house the valuation of which is Rs. 50 lakh and fair rent is Rs. 1 Lakh p.a. Annual value of house for the purpose of income tax will be:
Correct Answer
(D) Zero
[#572] Amount of deduction in case of a person with severe disability under section 80U will be:
Correct Answer
(D) Rs. 1,25,000
[#573] The amount paid on account or repairs of current repairs shall not include any expenditure in the nature of
Correct Answer
(B) capital expenditure
[#574] As per Section 288 A of Income Tax Act, the taxable income shall be rounded off to the nearest multiple of:
Correct Answer
(C) Rs. 10 for the nearest divisible number
[#575] The basis of determination of total income of a person is
Correct Answer
(B) his residential status in India