Stake money on owning and maintaining race horses is Rs. 70,000 and expenses incurred is Rs. 20,000. Its taxable income is:

Related MCQs

• A winning from lotteries is Rs. 50,000 and expenses incurred to earn such income is Rs. 5,000. Its taxable income is
• Preliminary expenses are incurred in every business. What are the expenses that qualify for deduction u/s.35D?
• Section 80 RRB the Income-tax Act, 1961 deals with deduction from gross total income in respect of income by way of
• Following income of a resident and ordinarily resident is taxable in India, that is
• Mr. Harivallabh incurred medical expenditure of Rs. 1,20,000 in respect of the disease specified in rule 11DD for his father (aged 66) who is wholly dependent on him. The amount eligible for deduction from his gross total income would be ________.
• Rent after deducting municipal taxes is Rs. 2,00,000, the amount of taxable income from house property is:
• An individual purchased a painting on 01-11-2017 for Rs. 5,00,000 though fair market value of the asset is `5,25,000. Income taxable u/s 56(2)(x) is:
• One of the following receipt is taxable under the head ‘Income from Other Sources’:
• Preliminary expenses that can be amortized under the Income-tax Act 1961 has to be restricted to ______________ of the cost of the Project.
• Expenditure incurred by a company for the purpose of promoting family planning among its employees, being of a capital nature