Profits earned from an illegal business are...............

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
• Which is the charging section of income under the head profits and gains of business or profession?
• If the tax liability of a company is less than 18.5% of its book profits, the company is liable to pay MAT at the rate of ------
• An assessee was engaged in the business of cattle rearing. He incurred a loss in respect of animals which were used for the purposes of his business (otherwise than as stock-in trade) and which have died. Such expenditure 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
• An assessee paid insurance premium against risk of damage or destruction of stocks or stores used for the purposes of his business or profession. Such expenditure shall be considered as
• Under the Income-tax Act, 1961, 'notional profit' from speculative business is –
• Assessee is having stock existing in the business. Valuation of stock will be at:
• Which of the following taxes are allowed as deduction while computing the business income?
• As per section 30, which expenditure incurred for a building used for the business or profession shall not be allowed as deduction?