Mr. X has started has business from 1st Sept '16 and does not have any other source of income. His first previous year will start from

Related MCQs

• The Central Government has notified Income computation and disclosure standards for computing income under the head Profits and Gains of Business and Profession - .
• Under Section 15 of Income Tax Act, the salary due in previous years and even if it is not received is _______________.
• Mr. DS during the previous year 2018-19 made a payment outside India to a nonresident on which TDS was not paid upto time allowed under section 200. However, such TDS was deducted and paid on 30th September 2019. When shall deduction of this expenditure be allowed to assessee?
• Sec.139 (7) provides that in the case of a Government Company or any other company owned or controlled by the Central Government, or by any State Government, the first auditor shall be appointed by _________
• Salary of S (Rs. 40,000 per month) becomes due on the last day of the month but is paid on 7th of next month. Also, salary of April, 2014 and May, 2014 is received in advance in March, 2014. What will be his gross income for Assessment Year 2014-15?
• In case the Key man insurance policy is taken in name of any other person any sum received on its maturity by such person shall be taxable under the head -
• The first income tax act was introduced in the year
• The first income tax act was introduced in the year
• Income is divided in ___________ heads of Income.
• The return of income can be filed with the Income-tax Department in electronic mode only.