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Which of the following statements is incorrect?

A. Income tax is a direct tax

B. Wealth tax is a central govt. tax

C. Excise duty is an example of direct tax.

D. Entry tax is a state govt. tax.

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  1. Any receipt of casual and non-recurring nature is known as casual income
  2. Tax' is imposed on a person by
  3. The Income Tax Act, which is still in force in India, was enforced in
  4. Mr.Karan Kapoor's Taxable Income is Rs.10,00,000. The tax amount will be
  5. No interest is available if the amount of refund of income tax paid is less than
  6. Which of the following income is / are exempt from tax?
  7. Tax on fringe benefit has been introduced from the assessment year
  8. If a self occupied property is converted into HUF property without adequate consideration then
  9. Amit has received Rs.25,000 from his former employer as arrear salary of 2004-05 previous year, Rs.85,000…
  10. Assessment year 2006-07 commenced on
  11. When a person has paid the security transaction tax on transfer of equity shares he does not have to…
  12. If an assessee makes an absolute transfer of an asset without any consideration then any income from…
  13. For a senior citizen the amount of deduction U/s 80D available is
  14. The CBDT consists of
  15. Contribution to superannuation fund is
  16. Sec. 234A deals with
  17. House Rent Allowance is exempt from tax
  18. Uncommuted pension received by a Government employee is fully exempt from tax.
  19. Income of a minor will not be clubbed with his/her parent's income if
  20. Income received or deemed to be received in India (whether accrued in or outside India) is taxable in…
  21. Which of the following statements is incorrect?
  22. The TDS Certificate issued by an employer to his employees in case of salary income is
  23. Income Tax Act 1922 is a "milestone" because
  24. Every employer should pay fringe benefit tax within
  25. Income of minor child, if clubbed with income of parents, is exempt from tax up to
  26. According to Section 2(7) of Income Tax Act "Assessee" means
  27. The amount of interest on borrowed capital allowable as deduction in case of a let out property is
  28. PAN is necessary for the following assessees -
  29. Acceleration of income will not be clubbed with the income of the assessee who transfers such income…
  30. Which one of the following taxes is not levied by the State Government?