Income Tax Law And Practice Set 6

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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%