Income Tax And Corporate Tax - Study Mode
[#471] Mr. Ram owns a house property. He lent it to Laxman at Rs. 10,000 p.m. Laxman sublet it to Mr. Maruti on monthly rent of Rs. 20,000 p.m. Rental income of Ram is taxable under the head:
Correct Answer
(C) Income from House Property
[#472] Determining the tax liability is called
Correct Answer
(A) Assessment
[#473] What will be the assessment year for the financial year 2004-05?
Correct Answer
(C) 2005-06
[#474] If the amount paid by the assessee falls short of the aggregate of tax and interest, the amount, so paid shall be adjusted towards
Correct Answer
(A) firstly by interest payable, then the balance, if any
[#475] The maximum permissible variation between ALP and transfer price, which is to be notified by the Central Government cannot exceed . . . . . . . . of the transfer price.
Correct Answer
(A) 3%