81. Consider the following statements.
Assertion (A): If the interest is payable outside India, tax must be deducted at source.
Reason (R): If tax has not been deducted at source, the amount paid as interest will not be allowed as a deduction in computing business income.
Select the correct answer from the option given below:
Assertion (A): If the interest is payable outside India, tax must be deducted at source.
Reason (R): If tax has not been deducted at source, the amount paid as interest will not be allowed as a deduction in computing business income.
Select the correct answer from the option given below:
82. What is the process by which subsidiaries transfer goods and assign prices?
83. Exemption under section 10(37) is available to:
84. Unabsorbed speculation business loss can be carried forward only for a period of
85. Under Sec. 194 IB of the Income Tax Act, 1961 an individual or HUF (who is not required to get his accounts audited u/s 44 AB) who is responsible for paying to a resident any rent, shall deduct income tax, for the use of any land and building or both, if the rent exceeds
86. Form for filing the returns of income for individuals having income from salary/pension/income from house property is
87. Losses can be set-off and carry forward only if
88. Match the following.
List-I (Sections)
List-II (Maximum Deduction)
a. Section 80C of IT Act
1. Rs. 10,000
b. Section 80D of IT Act
2. Rs. 40,000
c. Section 80DDB of IT Act
3. Rs. 1,50,000
d. Section 80TTA of IT Act
4. Rs. 25,000
| List-I (Sections) | List-II (Maximum Deduction) |
| a. Section 80C of IT Act | 1. Rs. 10,000 |
| b. Section 80D of IT Act | 2. Rs. 40,000 |
| c. Section 80DDB of IT Act | 3. Rs. 1,50,000 |
| d. Section 80TTA of IT Act | 4. Rs. 25,000 |
89. Which of the following is the largest source of income of the government of India?
90. Under the Income Tax Act, 1961 unabsorbed depreciation can be carried forward for set-off purpose:
Read More Section(Income Tax and Corporate Tax)
Each Section contains maximum 100 MCQs question on Income Tax and Corporate Tax. To get more questions visit other sections.
- Income Tax and Corporate Tax - Section 1
- Income Tax and Corporate Tax - Section 2
- Income Tax and Corporate Tax - Section 3
- Income Tax and Corporate Tax - Section 4
- Income Tax and Corporate Tax - Section 6
- Income Tax and Corporate Tax - Section 7
- Income Tax and Corporate Tax - Section 8
- Income Tax and Corporate Tax - Section 9