Deduction u/s SOD is allowed if the premium is paid to
| A. | Life insurance Corporation |
| B. | General insurance Corporation or any other insurer approved by IRDA |
| C. | Life insurance or General insurance corporation |
| D. | None of the above |
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Option: B Explanation : Click on Discuss to view users comments. |
The TI of the assessee has been computed as Rs. 2,53,494.90. For rounding off, the TI will be taken as
| A. | Rs. 2,53,500 |
| B. | Rs. 2,53,490 |
| C. | Rs. 2,53,495 |
| D. | None of the above |
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Option: A Explanation : Click on Discuss to view users comments. U665U said: (2:20pm on Monday 27th June 2016)
I THINK B OPTION IS RIGHT
jyoti said: (2:47pm on Tuesday 26th September 2017)
According to rules it is rounded off to nearest 10 multiple...and ignore after decimal digits... The last digit is 4..so the answer should be option B..
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Under the head Business or Profession, the method of accounting which an assessee can follow shall be
| A. | Mercantile system only |
| B. | Cash system only |
| C. | Mercantile or cash system only |
| D. | Hybrid system |
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Option: C Explanation : Click on Discuss to view users comments. |
Incomes which accrue or arise outside India but are received directly into India are taxable in case of
| A. | Resident only |
| B. | Both ordinarily resident and NOR |
| C. | Non-resident |
| D. | All the assesses |
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Option: D Explanation : Click on Discuss to view users comments. |
As per Sec.139(1), a company shall have to file return of income
| A. | When its total income exceeds Rs. 50,000 |
| B. | When its total income exceeds the maximum amount which is not chargeable to income tax |
| C. | In all cases irrespective of any income or loss earned by it. |
| D. | None of the above |
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Option: C Explanation : Click on Discuss to view users comments. |
