Income Tax And Corporate Tax - Study Mode

[#246] Short-term capital gain other than covered under section 111A is charged to tax at:
Correct Answer

(D) Normal rate of tax which is determined on the basis of the total taxable income of the taxpayer

[#247] If an asset is used for scientific research related to the business of assessee, is used in business for sometime and then sold, the selling price is deducted from the WDV of the block of asset. This will reduce
Correct Answer

(C) tax liability for that year

[#248] Under which of the following categories, a partner of partnership firm will be assessed?
Correct Answer

(C) Firm

[#249] ADEN Rules, 1953 is related to which of the following?
Correct Answer

(C) Double taxation relief
(G) Double taxation relief

[#250] According to the income tax act, a person means
Correct Answer

(D) All of these