Following income of a resident and ordinarily resident is taxable in India, that 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
• 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.
• When an individual non-resident has total income exceeding Rs. 50 lakhs, the amount of surcharge payable on income-tax would be _____________.
• Rebate u/s 87A is allowed to an Individual who is resident in India and whose total income does not exceed ________.
• Stake money on owning and maintaining race horses is Rs. 70,000 and expenses incurred is Rs. 20,000. Its taxable income is:
• One of the following receipt is taxable under the head ‘Income from Other Sources’:
• Section 80 RRB the Income-tax Act, 1961 deals with deduction from gross total income in respect of income by way of
• 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:
• Tax payable by a resident individual, if he has long term capital gain of Rs. 2,60,000 but has no other income is: