51. Which of the following statements is correct in regards to health and education cess?
1. Amount of income tax shall be increased by health and education cess.
2. Amount of income tax and surcharge shall be increased by health and education cess.
Select the correct answer:
1. Amount of income tax shall be increased by health and education cess.
2. Amount of income tax and surcharge shall be increased by health and education cess.
Select the correct answer:
52. Interest on excess refund is not payable if the amount of refund is :
53. The order of the Assessing Officer under section 210(3) requiring the taxpayer to pay advance tax on his current year's income may be passed during the financial year, but not later than:
54. Dividend received from Hindalco will be taxable
55. Property income is exempt from tax in which of the following case(s)?
56. As per transfer pricing provisions, an advance pricing agreement is valid for
57. Given is the information related to a house
Municipal Value (M.V.) Rs. 1,50,000
Fair Rent Rs. 1,80,000
Standard Rent Rs. 1,60,000
Actual Rent Rs. 20000
Municipal tax paid by owner is 20% of M. V. Unrealised rent 40,000 (conditions of rule 4 satisfied). What is the annual value of the house?
Municipal Value (M.V.) Rs. 1,50,000
Fair Rent Rs. 1,80,000
Standard Rent Rs. 1,60,000
Actual Rent Rs. 20000
Municipal tax paid by owner is 20% of M. V. Unrealised rent 40,000 (conditions of rule 4 satisfied). What is the annual value of the house?
58. Assertion (A): Revenue from indirect taxes was the major source of tax revenue till tax reforms were taken during nineties.
Reason (R): Traditionally India's tax regime relied heavily on indirect taxes including customs and excise.
Reason (R): Traditionally India's tax regime relied heavily on indirect taxes including customs and excise.