In Assessment year, the tax will be calculated at

Related MCQs

• As per Income Tax Act, 1961, income tax is charged on the income of at a rate which are prescribed by the Finance Act of relevant assessment year.
• Assessment year is the period of 12 months commencing from_every year.
• For the purposes of computing minimum alternate tax under Section 115B(a) of the Income Tax Act, 1961, the book profit need not to be increased by inter alia, the amount of deferred tax debited to the profit and loss account.
• Agricultural income is completely exempted for assessment year .
• Citizenship is the criteria of assessment
• The income of previous year is chargeable to tax in the .
• Previous year means the financial year immediately preceding the .
• The Income Tax Act, was enacted in:
• As the income goes up, the slab of income tax rate goes
• Income tax is paid by every individual depending on his