Income Tax And Corporate Tax - Study Mode
[#476] In which section of the income tax act, the taxpayer is defined?
Correct Answer
(B) Section 2(7)
[#477] The income from the asset would be taxable in the hands of the transferor if:
Correct Answer
(D) All of the above
[#478] Match the following. List-I List-II a. House rent allowance 1. Taxable income b. Casual income 2. A perquisite c. Collection charges on interest on securities 3. A deduction from income d. Best judgement assessment capital gain 4. A step taken by 'ex authorities' 5. Is taxable income 6. Party taxable income
Correct Answer
(D) a-6, b-5, c-3, d-4
[#479] To reduce tax burden of the assessee by following the provisions of the income tax law is called
Correct Answer
(A) tax planning
[#480] X is employed in a private company at a salary of Rs. 70,000 per month and Rs. 10,000 per month as dearness pay. He received Rs. 2,000 per month as house rent allowance. He paid Rs. 2,500 per month as house rent. What ts the exempted portion of house rent allowance?
Correct Answer
(D) Nil