The awards and rewards are exempted from Income Tax if .

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.
• 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.
• __________ is exempted from income tax.
• Which section of the Income Tax Act exempted incomes have been mentioned?
• Expenditure incurred on exempted income is.............. as deduction.
• Agricultural income is completely exempted for assessment year .
• The meaning of exempted income is .
• As the income goes up, the slab of income tax rate goes
• As the income goes down, the slab of income tax rate goes
• Which of the following is not included in the term Income under the Income Tax Act, 1961?