Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.

A. True

B. False

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  1. The apex body of Income Tax Department. is
  2. The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.
  3. A company is considered to be resident if
  4. Acceleration of income will not be clubbed with the income of the assessee who transfers such income…
  5. Mr. X has started has business from 1st Sept '05,and does not have any other source of income. His first…
  6. If both parents are earning then income of a minor child will be clubbed with
  7. No interest is available if the amount of refund of income tax paid is less than
  8. The taxable Income computed should be rounded off to the nearest multiple of Rs.10.
  9. The Income Tax Act 1961 came into force on
  10. The income of previous year of an assessee is taxed during the following assessment year
  11. Any receipt of casual and non-recurring nature is known as casual income
  12. Income of a minor will not be clubbed with his/her parent's income if
  13. Every employer should pay fringe benefit tax within
  14. Mr.Karan Kapoor's Taxable Income is Rs.10,00,000. The tax amount will be
  15. The TDS Certificate issued by an employer to his employees in case of salary income is
  16. Income Tax Act 1922 is a "milestone" because
  17. For a senior citizen the amount of deduction U/s 80D available is
  18. Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.
  19. TDS, in case of salary should be deposited within
  20. Contribution to superannuation fund is
  21. Tax on fringe benefit has been introduced from the assessment year
  22. The amount of interest on borrowed capital allowable as deduction in case of a let out property is
  23. According to Section 2(7) of Income Tax Act "Assessee" means
  24. PAN is necessary for the following assessees -
  25. Amit has received Rs.25,000 from his former employer as arrear salary of 2004-05 previous year, Rs.85,000…
  26. Expected Rent can be determined in the following way
  27. House Rent Allowance is exempt from tax
  28. Income of minor child, if clubbed with income of parents, is exempt from tax up to
  29. The rates of income tax are specified in
  30. Assessment year 2006-07 commenced on