If the assesse is engaged in the business of growing and manufacturing tea in India, the agriculture income in that case shall be:
Under the Indian Income Tax Act, if the assessee is engaged in the business of growing and manufacturing tea in India, 60% of the income from such business is considered as agricultural income. The remaining 40% is treated as business income.
English
10 Questions
20 Marks
12 Mins English English50 Questions100 Marks60 Mins English English10 Questions20 Marks12 Mins EnglishAny assessee (except an eligible assessee in respect of an eligible business referred to in section 44AD or 44ADA) must pay up to 75 percent of advance tax payable:
Which of the following expenses debited to Profit and Loss a/c but disallowed while computing income from Business?
(A) General Expenses
(B) Personal Expenses
(C) Expenses of Income which is taxable under the other heads of income
(D) Charities and donations Choose the correct answer from the options given below:
Choose the correct answer from the options given below:
Identify which of the following statements are True:
A. Assessment Year means the period of 12 months commencing on the first day of April every year.
B. Rounding off of total income is defined under Section 288B of the Income Tax Act.
C. Rounding off of tax is defined under Section 288A of the Income Tax Act, 1961.
D. Assessee is always a person, but a person may or may not be an assessee.
E. A person may not have assessable income but may still be an assessee.
Choose the correct answer from the options given below:
Which section of the Income Tax Act 1961 mentions unilateral relief?
Which of the following are taxes (GST) applicable in the case of supply of goods?
I. From West Bengal to Chandigarh
II. From Puducherry to Chennai
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