The periodic payment of money for the past service is known as ……………………
A. gratuity
B. pension
C. commuted pension
D. leave salary
✅ The correct answer is option B.
Share of income from firm is…………….
A. taxable in the hands of partner
B. exempted in the hands of partner.
C. exempted in the hands of firm.
D. none of these.
✅ The correct answer is option B.
Which of the following is not included in salary income.
A. commuted pension
B. un commuted pension
C. family pension
D. leave salary
✅ The correct answer is option C.
Tax Holiday is.
A. income tax on holiday income.
B. cancellation of tax for the entire country.
C. tax exemption for a specified peri
D.
✅ The correct answer is option C.
Past untaxed income brought to India is taxable in the hands of……………..
A. resident and not ordinarily resident.
B. resident and ordinarily resident.
C. non-resident.
D. none of these.
✅ The correct answer is option D.
Income accrued in India is taxable in the hands of……………………….
A. non-resident only.
B. resident and not ordinarily resident only.
C. all assesses.
D. resident and ordinarily resident only.
✅ The correct answer is option C.
Income received in India is taxable in the hands of………………………
A. resident only.
B. resident and ordinarily resident only.
C. non-resident only.
D. all assessees.
✅ The correct answer is option D.
Salary paid by an Indian company to its employees working in one of its branches outside India is…………………………..
A. salary accruing in india.
B. salary deemed to accrue in india.
C. salary accruing outside india.
D. none of these.
✅ The correct answer is option A.
An Indian company’s residential status is that it is always…………………
A. resident.
B. non resident.
C. ordinarily resident.
D. none of these.
✅ The correct answer is option A.
In case of residential status of HUF ,firm and AOP if control and management are wholly outside India they are deemed as………………
A. resident.
B. ordinarily resident.
C. non resident
D. none of these.
✅ The correct answer is option C.