371. Tax is reduced from casual incomes at………………..
A. 10% + surcharge and cesses.
B. 20% + surcharge and cesses.
C. 30%.
D. none of these.
✅ The correct answer is option C.
SSC
372. Maximum amount of deduction allowable under section 80CCF is ………………….
A. rs: 10,000
B. rs: 20,000
C. rs: 25,000
D. rs: 1,00,000
✅ The correct answer is option B.
373. Grossing up of interest on securities is required when……………….
A. interest is received after t.d.s.
B. they are central govt. securities.
C. the interest on bank deposit is less than rs. 10,000.
D. none of these.
✅ The correct answer is option A.
374. STCL can be set off in the same assessment year from ………………………….
A. stcg
B. ltcg
C. both
D. not possible
✅ The correct answer is option C.
375. Dividends from co-operative society are……………………
A. exempted.
B. taxable.
C. partially exempt
D. d. partially taxable.
✅ The correct answer is option B.
376. The basic exemption up to which income is not taxable for an individual resident is …………..
A. rs: 1,00,000
B. rs: 2,00,000
C. rs: 5,00,000
D. none of the above
✅ The correct answer is option A.
377. Which of the following income from other sources is not taxable?
A. dividend from co-operative society.
B. dividend from foreign company.
C. dividend from domestic company.
D. winnings from lottery.
✅ The correct answer is option C.
378. The rate of surcharge on tax payable is ………………….% when taxable income is Rs: 5,57, 500.
A. 3%
B. 5%
C. 10%
D. nil
✅ The correct answer is option D.
379. Which one of the following is not an income from other sources?
A. interest on fixed deposit in bank.
B. winnings from cross word puzzles.
C. gift in excess of rs.50,000 from an unrelated person.
D. profit on sale of building.
✅ The correct answer is option D.
380. Income of Benami transactions shall be included in the income of …………………….
A. real owner
B. transferor
C. transferee
D. none of these
✅ The correct answer is option A.