Match the items of List-I with the items of List-II and choose the correct answer:
List-I (Types of Income) | List-II (Heads of Income) |
a. Salary, bonus, commission, etc., received by a working partner from the firm | 1. Income from other Sources |
b. Pension received by the widow of a government employee | 2. Income from (short term) Capital Gains |
c. Profits on the sale of machinery used in business | 3. Income from Capital Gains |
d. Compensation received from the government on compulsory acquisition of land and profit earned | 4. Income from Business and Profession |
5. Income from Salaries |
A. a-5, b-2, c-1, d-3
B. a-4, b-2, c-3, d-5
C. a-5, b-4, c-3, d-2
D. a-4, b-1, c-2, d-3
Answer: Option D
Related Questions on Income Tax and Corporate Tax
A. 3, 4 and 5
B. 2, 4 and 5
C. 1, 2 and 3
D. 1, 3 and 5
Entertainment allowance for non-government employees are:
A. Fully exempted
B. Fully taxable
C. Partially taxable
D. Fully exempted in specified
E. Partially exempted in selected areas
In tax laws, donation to approved and notified association for scientific research is allowed as:
A. 125% of the donation
B. 100% of the donation
C. 175% of the donation
D. 150% of the donation
A. Both the Statements (I) and (II) are correct
B. Statement (I) is correct, but (II) is incorrect
C. Both Statements (I) and (II) are incorrect
D. Statement (II) is correct, but (I) is incorrect
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