Previous year means the financial year immediately preceding the .

Related MCQs

• The income of previous year is chargeable to tax in the .
• Under Section 15 of Income Tax Act, the salary due in previous years and even if it is not received is .
• The Income tax rate for the financial year 2016-17 for individual is…………..
• The rate of tax for the financial year 2016-17 for the foreign companies is
• Surcharge is levied at the rate …………….if the income exceeds ` 1 crore of the financial year 2016-17.
• When the portion of the house is self-occupied for the full year and portion is self-occupied for the whole year, the annual value of the house shall be determined by .
• A short term capital asset means a capital asset held by the assessee for not more than:
• A Long term capital asset means a capital asset held by the assessee for more than:
• As per Income Tax Act, 1961, income tax is charged on the income of at a rates which are prescribed by the Finance Act of relevant assessment year.
• The period of 12 months commencing on the first day of April every year and ending on 31st March is called as .