………… is exempted from income tax.

Related MCQs

• An assessee was engaged in the business of dealing in commodities. He had paid Commodities transaction tax of Rs.15,000 in respect of the taxable commodities transactions. Income arising of Rs 3,00,000 from such taxable commodities transactions was included in the income computed under the head "Profits and gains of business or profession”. Such expenditure of payment of Commodities transaction tax shall be considered as
• Under the Income-tax Act, 1961, which of the following outlays incurred by Sun Ltd. during the previous year ended 31st March, 2019 will not be admissible as deduction while computing its business income
• Concealment of income or false claims to reduce tax liability are cases of ------
• Under the Income Tax Act, 1961, depreciation on machinery is charged on ………
• The Income Tax Act came into force from _______________
• In accordance with the provisions of Section 17(1) of Income Tax Act, 1961, the term salary includes _______________
• Under the Income-tax Act, 1961, 'notional profit' from speculative business is –
• Under the Income-tax Act, 1961, interest on capital received by a partner from a partnership firm is chargeable under the head
• Income tax rates are fixed in……………..
• Section 2(9) of Income tax deals with…………..