Income Tax And Corporate Tax - Study Mode
[#676] Which Section of the Income Tax Act relates to claim deduction for premium paid for Health Insurance?
Correct Answer
(B) Section 80D
[#677] Which of the following donations is eligible for 100% deduction?
Correct Answer
(D) National Sports Fund
[#678] Income from house property owned by trade union is exempt under
Correct Answer
(A) Section 10(24)
[#679] An individual is considered as an owner of the house property for the purpose of charging tax to:
Correct Answer
(D) All of the above
[#680] Which 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
Correct Answer
(C) 2, 3, 7 and 6