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Higher Study | Income Tax

Heads of Income
From the following information, compute the taxable amount of HRA for one month of Naresh who resides in Kanpur: (i) Salary per month Rs. 6,000 (ii) HRA received per month Rs. 500 (iii) Rent paid per month Rs. 900
What is the maximum amount of income on which there is NO tax in respect of senior citizens for Assessment Year 2018-19 ?
X, an employee of the private company, gets Rs. 30,000 p.m. basic salary and entitled to Rs. 1,500 p.m. as entertainment allowance. What are the deductions u/s 16 (ii) from gross salary in respect of entertainment allowance?
Which form is used to file an application for obtaining Permanent Account Number(PAN) by an Indian resident ?
Which of the followings are included in person under section 17(1)? (A) A Hindu Undivided Family (HUF) (B) A company (C) A firm (D) An individual (E) A local authority (F) An association of persons Choose the most appropriate answer from the options given below:
Which of the following income is generally chargeable under the head of income from other sources? (A) Income from subletting house property (B) Director fee (C) Ground Rent (D) Agricultural Income from outside India (E) Insurance commission (F) Income from sale of securities Choose the most appropriate answer from the options given below:
Any planning of tax which aims at reducing tax liability in a legally recognised permissible way can be termed as an instance of:
Sequence the steps for computing gross annual value of income from house property: (A) Find out the rent actually received or receivable after excluding unrealised rent before deducting loss due to vacancy. (B) Find out the loss because of vacancy. (C) Find out the reasonable expected rent of the property. (D) Find out which one is the higher amount computed in (C) or (A). (E) (D) - (B) is gross annual value Choose the correct answer from the options given below:
Which of the following losses are NOT deductible from business Income? A. Loss incurred in closing down the business B. Loss incurred due to damage destruction etc. of capital assets C. Loss of stock-in-trade due to enemy action D. Loss sustained before the business is commenced E. Loss of raw material finished good-in-transit Choose the correct answer from the options given below:
Which of the following provident fund is approved by the provident fund commissioner?
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