Income Tax And Corporate Tax - Study Mode
[#201] 'Previous year' means
Correct Answer
(D) The financial year preceding the assessment year
[#202] Government's contribution to the new pension scheme referred to in Section 80CCD is
Correct Answer
(B) Income chargeable to tax as salaries in full
[#203] Consider the following problem relating to a let-out house property: Municipal value - Rs. 60,000 Fair rent - Rs. 68,000 Standard rent under the Rent Control Act - Rs. 62,000 Annual Rent received - Rs. 65,000 The Gross Annual Value of the property will be:
Correct Answer
(C) Rs. 65,000
[#204] Division P is an investment centre within PC Ltd. Over which of the following is the manager of division P likely to have control? 1. Transfer prices 2. Level of stock in the division 3. Discretionary fixed costs incurred in the division 4. Apportioned head office costs
Correct Answer
(B) 1, 2 and 3
[#205] The agricultural income is fully exempt from tax from:
Correct Answer
(A) Finance Act, 1973