Chapter:

COMPUTATION OF TOTAL TAXABLE INCOME OF AN INDIVIDUAL Solved MCQs

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Chapter: COMPUTATION OF TOTAL TAXABLE INCOME OF AN INDIVIDUAL
1.

As per Section 2(e a), which of the following is an asset in case of an individual:

A. cash in hand up to rs. 50,000
B. shares
C. debentures or bonds
D. motor car used for official purposes
Answer» A. cash in hand up to rs. 50,000
discuss
2.

Income Tax is levied on the ___________ of a person.

A. total income
B. total income-debt
C. gross total income
D. net income-debt perquisites
Answer» A. total income
discuss

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