R gifted his house property to his married minor daughter. The income from such house property shall be taxable in the hands of
| A. | R as deemed owner. |
| B. | R. However, it will be first computed as minor daughters income & clubbed in the income of R. |
| C. | Income of married minor daughter. |
| D. | None of the above |
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Option: C Explanation : Click on Discuss to view users comments. |
Agricultural income is
| A. | Fully exempt |
| B. | Partially exempt |
| C. | Fully taxable |
| D. | None of the above |
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Option: A Explanation : Click on Discuss to view users comments. |
Tax audit is compulsory in case a person is carrying on business whose gross turnover/sales/receipts, as the case maybe, exceeds
| A. | Rs. 10 lakhs |
| B. | Rs. 40 lakhs |
| C. | 1 crore |
| D. | None of the above |
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Option: B Explanation : Click on Discuss to view users comments. |
