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41. A proportional tax is based on the principle ‘higher the income, higher the tax’. Statement___________________is .
True
False
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42. The tax will be economical if the cost of the collection is very small.
43. Income tax is a form of tax that is levied on an individual’s total earnings.
44. The Income from House Property is taxable in the hands of the individual even if the property is not registered in his name__________________.
When the property has been transferred to spouse for inadequate consideration
Where the property is transferred to a minor child for inadequate consideration
Where the individual holds on the importable estate
All of the above
45. Under the Head Income from House Property, the basis of the charge is the________________of property.
Annual value
Quarterly value
Half-quarterly value
None of the above
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