McqMate
| Q. |
The capital gain is chargeable under of Income Tax Act. |
| A. | Section 45 |
| B. | Section 55 |
| C. | Section 56 |
| D. | Section 40 |
| Answer» A. Section 45 | |
2.5k
2
Do you find this helpful?
17
View all MCQs in
Income Tax Law and PracticesDiscussion
chandra sekar
1 year ago
Option C is wrong
As per section 45(1), the charging section for the head 'Capital gains', any profits and gains arising from transfer of a capital asset shall be chargeable to income-tax under the head capital gains in the previous year in which transfer took place
As per section 45(1), the charging section for the head 'Capital gains', any profits and gains arising from transfer of a capital asset shall be chargeable to income-tax under the head capital gains in the previous year in which transfer took place
0
learner_som
9 months ago
Section 45(1) is correct answer
0
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.
- Capital gain tax shall not be chargeable on disposal of securities which are held for a period of __________.
- 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.
- The income of previous year is chargeable to tax in the .
- Which of the following is not included in the term Income under the Income Tax Act, 1961?
- Gain on disposal of immovable property is chargeable to at _____%, where holding period is up to one year.
- The deduction of life insurance premia, contribution to provident fund, etc. will is done under of Income Tax Act, 1961.
- In Income Tax Act, 1961, deduction under sections 80C to 80U cannot exceed .
- Deduction in respect of contribution to pension scheme of central government comes under _____________of Income Tax Act, 1961.
- Which of the following is covered under section 80D of the Income Tax Act, 1961?