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Section 10 exempts various kinds of income from being included in total income of an assessee. The present set of 10 questions will surely add to your knowledge as the questions are picked up to raise the curiosity about exempt income under Income Tax Act . ...
Residential status knowledge is one the most fundamental to charging of tax under Income Tax Act , 1961.Section 6 of the Act defines and fix the considerations under which a person’s residential status can be determined. The provision also provides certain beneficial conditions to person of Indian origin or non resident Indians or Indians who are going out for employment purpose....
Accrual of income is one of the basic concept to grasp for determining the tax-ability of an income under Income Tax Act. The basis of charge of tax on any receipt by person is to first clearly see whether the income has been received in India or arisen or accrued in India or deemed to be received or deemed...
Basis of charge of tax under Income Tax Act 1961 is something which is the first thing to decide to know whether a sum shall be taxable . The definition under Income Tax Act starts from section 2 and section 4 provides basis of charge. Therefore, here is an attempt to provide a set of 10 multiple...
Learning through tax quiz is fascinating exercise. So providing brilliant tax questions topic wise for chartered accountancy or cost accountancy or CS students is a novel experiment by this site. In this series, a new ten question set of multiple choice and true false question on the tax question from topic “income from Other sources ” are...
A video reports on tax planning by US based corporate to shift their office elsewhere in other … [Read More...]
Capital gains exemption u/s 54 provides relief to a tax payer who gets gains on account of sale of … [Read More...]
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Quiz for CA/ICMA/CS Students