State Government pays commission of Rs.20, 000/- to one of its agent on sale of Lottery Tickets.

Related MCQs

• Calculate the Gross Annual value from the following details: Municipal Value - Rs. 45,000 Fair rental value - Rs. 50,000 Standard rent - Rs. 48,000 Actual Rent - Rs. 42,000
• A sale of Rs. 50.000 to A was entered as a sale to B. This is an example of _
• 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 _________
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• M took a loan of Rs. 6,00,000 on 1.4.2011 from a bank for construction of a house. The loan carries an interest @ 10% p.a. The construction is completed on 15.6.2013. The entire loan is still outstanding. Compute the interest allowable for the assessment year 2020- 21
• 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?
• An assessee incurred a sum of Rs.1,10,000 for alteration of the memorandum and articles of association. Such expenditure shall be considered as:
• An individual needs to pay Rs. 1,00,000 as advance tax. By 15th of December, how much amount must be paid by the individual:
• Payment of Rs. ` 45,000 made in cash towards purchases of medicines. The amount of disallowance under section 40A(3) is -
• Which of the following statement is not true regarding appointment of statutory auditor by the Central Government?