M.a chartered accountant is employed with M ltd, as an internal auditor and requests the employer to call the remuneration as internal audit fee.M. shall be chargeable to tax for such fees under the head __________

Related MCQs

• Whose income is chargeable to Income tax _______________
• M.has taken a house on rent and sublets the same to A, income of M from such house property shall be taxable under the head _____________
• M.Ltd announced increase in D.A. on 21-03-2017 with retrospective effect from 21-3-2012 and the same were paid on 6-04-2017. The arrears of D.A. shall be taxable in the previous year ________
• Salary, bonus commission or remuneration due to or received by a working partner from the firm is taxable under the head_______
• An assessee has borrowed money for purchase of house and interest is payable outside India. Such as interest shall ____________
• M, who is entitled to salary of Rs.12,000 p.m. took advantage salary from his employer for the month of March, 2018 on 31-3-2018.The gross salary of M for assessment year 2018-19 shall__________
• M.claimed the exemption of gratuity in the past to the extent of Rs.2,50,000.He was entitled to the gratuity from the present employer amounting to Rs.2,00,000 in the previous year 2017-18. M can claim exemption to the maximum extent of ___________
• Employee M is neither a government employee nor covered under payment of gratuity Act, 1972. He has completed 16 years and 8 months of service. The number of completed years considered for gratuity exemption shall be _____________
• Perquisite received by the assesses during the course of carrying on his business or profession is taxable under the head _______
• Shivaji University is assessable under the Income Tax Act as _______________.