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This set of Income Tax Law and Practice Multiple Choice Questions & Answers (MCQs) focuses on Income Tax Law And Practice Set 6
Q1 | If a partner lets out his buildings to the firm, the rent received by him will be taxed under:
- Profits and gains from business
- Income from house property
- Income from other sources
- None of these
Q2 | The rate of surcharge if total income of an individual assessee exceeds Rs:fifty lakh butdoes not exceed Rs: one crore is:
- 7.5%
- 10%
- 15%
- 20%
Q3 | The rate of surcharge if total income of an individual assessee exceeds Rs: one crore is:
- 7.5%
- 10%
- 15%
- 20%