Which of the following incomes is not chargeable under

Q: Answer-Which of the following incomes is not chargeable under the head 'Income from Business or Profession'...

Salary income is taxable under the head Income from Salaries and not under Income from Business or Profession. Commission and profits from business activities are taxable under BusinessProfession.

the head "Income from Business or Profession"?

A Profit from the sale of goods manufactured by the assessee’s factory Correct Answer Incorrect Answer

B Commission received by an insurance agent Correct Answer Incorrect Answer

C Salary received by a director of a company Correct Answer Incorrect Answer

D Income earned by a lawyer from his practice Correct Answer Incorrect Answer

Solution

Salary income is taxable under the head "Income from Salaries" and not under "Income from Business or Profession". Commission and profits from business activities are taxable under Business/Profession.

Practice Next

More Accounts Questions

दिए गए प्रत्येक प्रश्न में एक अंग्रेजी का वाक्य दिया गया �...
सरकार ने यह आदेश निरस्त कर दिया है।
दिए गए शब्दों का सही हिन्दी पर्याय चुनिये

Sticky Price
...
Marketing quota के लिए लिए सही पारिभाषिक शब्द है
दिए गए वाक्य का सही हिन्दी अनुवाद चुनिये।

अपने विविधता�...
इनमें से क्या Fictitious का विधिक प्रयोग में सही अर्थ नहीं है?
निम्नलिखित में से कौन सा ‘General Lien’ शब्द का बैंकिंग शब्दावली �...
बाजारों ने कीमतों में बढ़ोतरी का खामियाजा भुगता।
नीचे दिए गए शब्दों मे से कौन सा शब्द “पारिश्रमिक” का सही अ�...
निम्नलिखित में से कौन सा शब्द organised market का सही पर्याय है ?

Thank You for posting your query. Please check your email for further guidance

Please Register/Login to Download Question