Income Tax And Corporate Tax - Study Mode
[#361] Which of the following is correct in regard to, interest on excess refund?
Correct Answer
(B) The interest rate is 0.5% per month
[#362] The sum of various heads is called as:
Correct Answer
(C) Gross Total Income
[#363] Loss from lottery can be set-off against
Correct Answer
(C) cannot be set-off
[#364] Which of the following provision/s of salary is/are included in accordance with the provisions of Section 17(1) of Income Tax Act, 1961?
Correct Answer
(D) All of the above
[#365] Gain arising on transfer of capital asset is charged to tax under the head 'Capital Gains'. Income from capital gains is classified as 'Short-term Capital Gains' and 'Long-term Capital Gains'. Generally, long-term capital gain is charged to tax at the following rates (plus surcharge and cess as applicable)?
Correct Answer
(C) 20%