Income Tax And Corporate Tax - Study Mode

[#666] Time limit to set-off the losses from house property is
Correct Answer

(C) 8 years

[#667] Consider the following statements. Assertion (A): Revenue from indirect taxes was the major source of tax revenue till tax reforms were taken during nineties. Reason (R): Traditionally India's tax regime relied heavily on indirect taxes including customs and excise.
Correct Answer

(C) Both (A) and (R) are correct and (R) is the correct explanation of (A)

[#668] An individual being Indian citizen or a person of Indian origin, is resident in India if:
Correct Answer

(C) His total stay in India for 182 days or more in the relevant previous year

[#669] Which of the following is non-agricultural income?
Correct Answer

(B) Income from sale by the assessee of plants grown in pots

[#670] Total income of an assessee is
Correct Answer

(D) Both B and C