Direct Tax
Advance Tax, TDS and TCS Question 1.Answer the following with reference to the provisions of the Income-tax Act, 1961 for the assessment year 2021-22:When will tax not required to be deducted at source on interest payable to a resident on any bond or security issued by a company though the aggregate amount of interest exceeds […]
Profits and Gains from Business or Profession Question 1.State with reason, whether the following statements are true, or false with regard to the provisions of the Income-tax Act, 1961 for the Assessment year 2021-22: [Nov. 2008, 2 Marks](a) Rural branches of the Cooperative banks are not allowed to claim provision for bad and doubtful debts.(b) […]
Income from House Property Introduction Question 1.Explain the concept of Municipal Value, Fair Rent and Standard Rent. Quality properties for rent Answer:Municipal ValueIt refers to the value that the Municipal Authorities deems as the value of the property for the purpose of assessment of property taxes. Fair RentIt is the rent fetched by a […]