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Income Tax Law And Practice
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Income Tax Law And Practice
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25 Questions

1. House rent allowance is....................
2. Which one of the following is not an admissible expense
3. Section C applies on ...................
4. previous year started from ______________.
5. Short term capital gain on sale of unlisted shares are.................
6. An employee is deemed as specified employee if he is a director in the company or has substantial in the company or his chargeable salary per annum exceeds.
7. Rate of depreciation on furniture is........................
8. House property held for less than 36 months is........................
9. Under section 44AB the audit of accounts is compulsory if total sales exceed ..........................
10. Cost of improvement incurred prior to 1.4.81 is................
11. Scholarship granted is...................
12. Interest on Bank Term Deposits is subject to tax deduction at source if the interest amount during the relevant previous year exceeds................
13. Incomes absolutely exempt from Tax are listed under.............................
14. Education allowance is exempted for a maximum of...................
15. A person who is of Indian origin visiting India during the previous year to be called resident must stay in India for at least.....................
16. Profits earned from an illegal business are..........................
17. Under Income Tax Act depreciation is allowed on ..................
18. Rates of Income tax are fixed under .......................
19. Section.................. of the Income Tax Act deals with exempted incomes.
20. Who is assessee in case of a HUF?
21. Grossing up of interest on securities is required when...................
22. Under the income- tax act, the incidence of taxation depends on......................
23. A citizen of India who goes abroad for the purpose of employment, he must stay in India at least for ............................. days to become a resident
24. Deduction for other expenses except interest in the computation of income from house property is allowable to the extent of .........................
25. Interest on RPF balance is exempted up to.......................

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