Speculation loss cannot be set off against

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Speculation loss cannot be set off against

1.. salary income

2.house property income

3. casual income

4.all the above

Posted Date:-2022-01-06 15:31:19

More MCQS Questions and answers

  1. A senior citizen female assessee can claim deduction u/s 80u upto.
  2. A weighted deduction of ______ % is allowed under sec. 35(2AA) in respect of contribution to National Laboratory.
  3. If individual shares of partners of AOP/BOI are unknown, tax is charged on the total income of AOP/BOI at the Maximum Marginal rate of.
  4. In case of expenditure on common facilities paid by the owner is reduced out of actual rent, the balance is known as
  5. In order to claim deductions under section 54 the assessee should not transfer the newly acquired asset with in ________ years from the date of its purchase.
  6. In order to claim deductions under section 54 the assessee should not transfer the newly acquired asset with in ________ years from the date of its purchase.
  7. Income received in India is taxable for ____________.
  8. Income Tax Act was passed
  9. Income Tax Authorities are grouped into two main wings Administrative and.
  10. Incomes which specifically fall under any of the first four heads of income are included in _______.
  11. Profit on sale of long term capital asset is
  12. Rate of TDS for casual incomes is ________.
  13. Rates of TDS for dividends on shares referred to u/s 115O is
  14. Share of income received from AOP is entitled to rebate at.
  15. Share of profits from PFAF of a partner is.
  16. The person who satisfies any one of two conditions u/s 6(1) + both the additional conditions u/s 6(6)(a)&(b)
  17. There is no exemption limit and flat rate of tax is applicable to
  18. A person who has not stayed in India for a period of less than 60 days during the relevant previous year is __________.
  19. Agriculture Income is __________
  20. Any payment made to discharge a revenue liability, if refunded later on, shall be.
  21. Any person on whom some proceeding has been taken under income tax is known as
  22. Apart from the Individual, Who will have three residential status?
  23. Apart from the Individual, Who will have three residential status?
  24. CII for the financial year 2018-2019 is ______
  25. Deduction in respect of expenditure on advertisements through articles intended for presentation will be allowed on the value of each article up to a limit of.
  26. Deduction of tax at source made for incomes which can be calculated in advance is called.
  27. Deductions out of net annual value is dealt in sec.c _____
  28. Deductions under section 80C is allowable for
  29. Determination of taxable income and calculation of tax liability is known as
  30. Determination of taxable income and calculation of tax liability is known as
  31. Dividends declared by Indian company are
  32. Embezzlement of cash by a cashier is.
  33. Expenditure incurred on the acquisition of patents or copy rights is allowed upto _____every year.
  34. Expressly allowed deduction are dealt in
  35. House rent allowances is _________
  36. In case of expenditure on common facilities paid by the owner is reduced out of actual rent, the balance is known as
  37. In case of let out property, the amount of deduction in respect of interest is _______.
  38. In case of residential status of HUF, firm, AOP and EOP if control and management are wholly outside India, they are deemed as.
  39. Indexation should not be done for the following case/s.
  40. Integration of agricultural income with non agricultural income is done if net agricultural income exceeds
  41. Loss under the head house property can be carry forward to
  42. Mr. Abraham and Mrs. Abraham are qualified Chartered Accountants and are carrying on profession as partners in the same professional firm.
  43. Non speculation business loss can be carry forward to
  44. Normally Previous Year starts from ___________
  45. one of the basic conditions under residential Status _____days
  46. one of the basic conditions under residential Status _____days
  47. Past untaxed foreign income brought into India is taxable for
  48. Profit from the business set up outside India but controlled from India is taxable
  49. Rate of TDS for listed securities is
  50. Remuneration paid to members of AOP is.
  51. Rent paid to a partner by a PFAF is.
  52. Residential status of an assessee is ascertained as per the provisions of.
  53. Salary received by partner from firm is _________ income
  54. Sec. 54 of the IT act deal with
  55. Share of income received from AOP is entitled to rebate at.
  56. Share of listed company, which is held by an assessee for more than _________ months known as short term capital assets.
  57. Share of unlisted company, which is held by an assessee for more than _________ months known as short term capital assets.
  58. Speculation loss can be set off against
  59. Speculation loss can be set off against
  60. Speculation loss cannot be set off against
  61. The highest Administrative Authority for Income Tax in India is.
  62. The year in which the income is earned is called_______
  63. Total income is determined on the basis of Residential Status of the assessee in the previous year according to.
  64. Under section 80E deduction out of total income is
  65. What are the residential status of an individual?
  66. What is maximum limit of deduction u/s 80D for senior citizen?
  67. What is not included in capital asset?
  68. What is the amount of standard deduction under section 24?
  69. What is the exemption limit for children education allowance?
  70. What is the exemption limit for children hostel expenditure allowance?
  71. Which of the following income is not charged under the head Profits and Gains of business or profession?
  72. Which of the following is a capital receipt?
  73. Which of the following/s is/are general income/s under section 56(1)?
  74. Which one of the following is not general income u/s 56(1)?
  75. Which one of the following rental value is not considered for calculation of ERV?
  76. While computing business income general deductions are given in sec.
  77. ________ of pre-construction period interest is allowed as deduction u/s 24.
  78. __________ deduction is allowable while calculating income from self occupied house.
  79. __________ is the current assessment year.
  80. ____________ is not a direct taxes.
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