Cash gifts received by HUF from his members to the extent of Rs. 75,000 will be treated as income of:

Related MCQs

• Mr. Raj (age 62) is Karta of HUF which is engaged in textile trade. The total income of the HUF is Rs. 3,40,000. The tax liability of the HUF would be ______
• In case of an individual or HUF, agricultural income is
• In case of an individual or HUF, to determine whether certain TDS provisions are attracted, what has to be seen is whether the person is subject to tax audit under section 44AB in
• Section 80 RRB the Income-tax Act, 1961 deals with deduction from gross total income in respect of income by way of
• Dividend received by a shareholder of an Indian Company engaged in growing and manufacturing of tea shall be treated as:
• 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
• 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 a person having agricultural lands sells the seeds taken from such lands in a nursery, which is part of the said lands, the income from such sale is treated as
• 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 ________.
• Casual income received by the assessee