A. income from salary
B. capital gains
C. profits and gains of business or profession
D. income from other sources
✅ The correct answer is option C.
Family pension received by the widow of a deceased employee is taxable under the head…………
A. income from salary
B. capital gains
C. profits and gains of business or profession
D. income from other sources
✅ The correct answer is option D.
Salary paid by an employer out of capital will be…………….
A. a revenue receipt in the hands of employee
B. a capital receipt in the hands of employee
C. a casual receipt
D. none of the above.
✅ The correct answer is option A.
Which of the following is not a capital expense?
A. installation expenditure of plant of a company.
B. legal expenses for reduction of capital.
C. commission to employees to achieve sales targets.
D. expenses of promoting a company.
✅ The correct answer is option C.
Salary received by a Member of Parliament is taxable under the head…………………….
A. income from salary
B. capital gains
C. profits and gains of business or profession
D. income from other sources
✅ The correct answer is option D.
Interest on capital paid by the firm to its partners is allowed up to ……………….
A. 6%
B. 12%
C. 15%
D. 16%
✅ The correct answer is option B.
Under Income Tax Act depreciation is allowed on ………………
A. purchase price
B. market price
C. w d v
D. face value
✅ The correct answer is option C.
The rate of depreciation on intangible asset is ………………….
A. 5%
B. 15%
C. 20%
D. 25%
✅ The correct answer is option D.
Residential status of an assessee is ascertained as per the provisions of……………………
A. sec. 6.
B. s
C. 7. c. sec. 9.
D. sec. 11.
✅ The correct answer is option A.
The income tax rate on long term capital gains for an individual is ……………………………
A. 10%
B. 15%
C. 20%
D. 25%
✅ The correct answer is option C.