Test on Income Tax (IB24)
Total income of a person is determined on the basis of his citizenship in india
A foreign company is always non resident in india
Income from forest trees of spontaneous growth is an agricultural income and hence exempted from tax.
Gratuity paid to government employees is asways fully exempt from a tax
Uncommutted pension means receipt of lumpsum amount in lieu of periodical taxable
Description:
Introduction to taxation, Residential status, Scope of total income, Non-taxable income, Income from salary, Income from house property, Income from business and profession, Income from capital gain, Income from other sources, Deduction under chapter VI A, Clubbing of income, Computation of total income
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