Under the head Business or Profession, the method of accounting which an assessee can follow shall be:

Related MCQs

• Perquisite received by the assessee during the course of carrying on his business or profession is taxable under the head.
• The income received and accrued outside India from a business controlled or profession set up in India, the tax incidence in case of resident is .
• The income received and accrued outside India from a business controlled or profession set up in India, the tax incidence in case of non-resident is .
• Assessee includes any person in respect of whom:
• If the assessee is living in own house HRA is…………..
• An assessee has borrowed money for purchase of a house & Interest is payable outside India.
• Salary, bonus, commission or remuneration due to or received by a working partner from the firm is taxable under the head.
• Gain arising from the disposal of _________ is taxable under the head capital gains.
• A person who derives his income by dealing in shares of private, unlisted and public limited companies are covered under the head.
• A loss on the sale of jewellery is _______ under the head capital gain.