Mr. A has loss from regular business of Rs. 8lakhs and income from speculation business of Rs. 11 lakhs. His total income chargeable to tax would be

Related MCQs

• When Mr. Avinash earned long-term capital gain of Rs. 1,80,000 on sale of listed shares, his total income being Rs. 10 lakhs, the amount of income-tax (including cess) on the said long-term capital gain would be _________ .
• When an individual non-resident has total income exceeding Rs. 50 lakhs, the amount of surcharge payable on income-tax would be _____________.
• A senior citizen having total income consisting of pension and let out property income aggregating to Rs. 6 lakhs must have paid advance tax during the financial year 2015-16 of
• Mr. Ramji is employed in ABC Ltd. who maintained a hospital for treatment of employees. During the financial year 2015-16, the value of medical benefit availed by Ramji’s family from the hospital was Rs. 2,10,000. The amount of medical perquisite chargeable to income tax would be
• Short-term capital gain on sale of listed shares (STT paid) in a recognized stock exchange is chargeable to income-tax @ ______ %.
• Section 80 RRB the Income-tax Act, 1961 deals with deduction from gross total income in respect of income by way of
• When the total income of an individual exceeds Rs.50 lakhs, the surcharge is payable @
• Padmaja Power Co. (P) Ltd. is engaged in generation and distribution of electrical power. It avails deduction under section 80-IA. The gross receipts of the company is Rs. 89 lakhs. The last date for filing the return of income in order to be eligible to avail deduction under section 80-IA is ________________ . (Note: Assume there is no extension of time for filling the return of income)
• 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 ________.
• When a resident senior citizen having gross total income of Rs. 5,56,000, has derived interest from savings account in a nationalized bank of Rs. 8,200 and fixed deposit interest of Rs. 47,000 from such bank, he is eligible for deduction of Rs. ________ from the gross total income.