Question

    In relation to the computation of total income, which of

    the following statements is INCORRECT?
    A The residential status of an individual must be determined to ascertain which income is to be included in computing the total income Correct Answer Incorrect Answer
    B There are five heads of income under the Income Tax Act, 1961 Correct Answer Incorrect Answer
    C Share of income of HUF is exempt in the hands of the member Correct Answer Incorrect Answer
    D Salary or bonus received by a partner is taxable as income under the head salaries Correct Answer Incorrect Answer

    Solution

    The correct answer is D

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