Income Tax And Corporate Tax - Study Mode
[#16] Income tax was levied in India first by the following
Correct Answer
(D) Sir James Wilson
[#17] Minors income is clubbed to:
Correct Answer
(C) Father's income or mother's income whichever is greater
[#18] In which Head, income from family pension is included under the Income Tax Act?
Correct Answer
(B) Income from other sources
[#19] Under Section 194IB of the Income Tax Act, 1961 an individual or HUF (who is not required to get his accounts audited U/S 44AB) who is responsible for paying to a resident any rent, shall deduct income tax, for the use of any land and building or both, if the rent exceeds
Correct Answer
(A) Rs. 50,000 per month
[#20] Which of the following statements are true in context of computing Minimum Alternative Tax?
Correct Answer
(C) A and B