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.

Related MCQs

• Arrear rent is taxable after deducting…………..as per Section 25B of the Income Tax Act, 1961.
• The income is chargeable under the head of salary under ……………of Income Tax Act, 1961.
• The Income Tax Act, 1961 broadly covers .
• Encashment of earned leave is given by………………. of Income Tax Act, 1961.
• Compensation received on voluntary retirement is given by of Income Tax Act, 1961.
• The Annual Value has been defined under of Income Tax Act, 1961.
• The assessment period for income tax on salary is .
• Agricultural income is completely exempted for assessment year
• The income of previous year is chargeable to tax in the .
• The Income tax rate for the financial year 2016-17 for individual is…………..