If the individual using the property for the business or professional purpose the income taxable under the……………..head.

Related MCQs

• Mr. Ram owns a house property. He lent it to Laxman at ` 10,000 p.m. Laxman sublet it to Mr. Maruti on monthly rent of ` 20,000 p.m. Rental income of Laxman is taxable under the head .
• Rental income from the business of leasing out properties would be taxable under the head_______
• Under the Head Income from House Property, the basis of charge is the of property.
• The following is not taxable as income under the head “Salaries”:
• The income is chargeable under the head of salary under ……………of Income Tax Act, 1961.
• 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 children education allowance, the amount exempted from taxable income is limited to
• Income accrued outside India and received outside India is taxable in case of.
• Arrear rent is taxable after deducting…………..as per Section 25B of the Income Tax Act, 1961.
• Income from property held under trust for charitable or religious purposes is .