Income Tax And Corporate Tax - Study Mode
[#311] Interest under Section 234B is payable by an assessee due to the following reason
Correct Answer
(B) defaults in payable of advance tax
[#312] Who will sign return of income of HUF?
Correct Answer
(B) Karta
[#313] Under section 56 of the Income-tax Act, any amount of money received in excess of Rs. 50,000 without consideration is fully taxable in the hands of:
Correct Answer
(B) Individuals and HUF
[#314] Which of the following statements is/are correct? 1. A foreign company can be a domestic company. 2. There is no difference between an Indian company and a domestic company. 3. The control and management of a company should be examined for each previous year as the company many change the place of its control and management and consequently its residential status may also change. Select the correct answer using the options given below
Correct Answer
(A) Both 1 and 3
[#315] Income chargeable under the head 'Profits and Gains from Business or Profession' is covered under:
Correct Answer
(B) Section 28