21.
The salary, remuneration or compensation received by the partners is taxable under the head
A
Income from Other Sources
B
Income from Business
C
Salary
D
None of the above
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The salary, remuneration or compensation received by the partners is taxable under the head
Income from Other Sources
Income from Business
Salary
None of the above
The rate of corporate dividend tax during the year 2018-19 is
17.674% + 12% surcharge + 4% HEC
19.67% + 12% surcharge + 4% HEC
20% + 12% surcharge + 4% HEC
The Presumptive Taxation Scheme of Section 44 AD can be adopted by
Resident Individual tax payers
Hindu Undivided Families
Partnership firms except Limited Liability Partnership Firms
All of these
The method by which a person illegally reduces his tax burden by either deflating their income or inflating their expenses is known as
Tax planning
Tax evasion
Tax management
Tax avoidance
The maximum deduction available under section 80 C is
Rs50000
Rs100000
Rs150000
Rs200000
The loss from speculation business can be set off against
Any income
Not any income
Non speculative business
Speculative business only
The Income Tax Act came into force from
1st March 1971
1st April 1971
1st March 1961
1st April 1962
The inclusion of income of other person in the income of assesseeis called
Aggregation
Carry forward
Clubbing
Set off
The employer made a contribution of Rs 25,000 to recognized provident fund for the previous year 2018-19. Such payment was made on 12th March, 2019. Such expenditure shall be considered as
Revenue expenditure
Capital expenditure
Deferred revenue expenditure
None of the above
The books of accounts are to be kept and maintained for a period of how many years from the end of the relevant assessment year.
6 years
5 years
8 years
Unlimited period
Tax deduction available to certain industries for the initial few years is called
Tax Holiday
Tax
TDS
Advance
Tax avoidance is
Illegal
Immoral
Lawful
All of these
Substantial interest in the company means not less than.........of voting power
50%
20%
30%
40%
Subletting is assessable under the head
Income from HP
Income from Other Source
Income from Capital Gain
None of the above
Section 80 JJAA deals with
Deduction in respect of produced companies
Production in respect of certain incomes
Deduction in respect of employment of new employee
Deduction in respect of profits and gains from undertakings an enterprise in special category states
Section 2(9) of Income tax deals with
Person
Assessee
Previous Year
Assessment Year
Section 2 (234) relates to
Indian company
Domestic company
Foreign company
Widely held company
Section 115JB relates to
Tonnage Tax
Corporate Dividend Tax
MAT
GST
Section 115JB relates to
Securities Transaction Tax
Maximum Alternative Tax
Minimum Alternative Tax
Surcharge
salary of Member of Parliament is taxable under the head
Salary
Income from Other Sources
Income from Business
All of the above