Income Tax And Corporate Tax - Study Mode
[#686] Losses can be carried forward by
Correct Answer
(B) heirs, if they got the business from inheritance
[#687] Sections 28 to 44D of Income Tax Act, 1961 related to:
Correct Answer
(B) Profit and Loss from Business or Profession
[#688] The scheme of advance rulings was introduced by the Finance Act, 1993. Chapter XIX-B of the Income-tax Act, which deals with advance rulings, came into force with effect from:
Correct Answer
(B) 1 st June 1993
[#689] If a person leaves India permanently on 15 th November 2006, his assessment year for income earned upto 15 th November 2006 will be
Correct Answer
(B) 2006-07
[#690] The advance ruling pronounced by the Authority for Advance Ruling as per section 245 is binding: (1) in respect of transaction for which ruling has been sought. (2) on income-tax authorities. (3) on the applicant. (4) on all other persons having similar transaction. Select the correct answer from the option given below.
Correct Answer
(A) (1), (2) and (3)