Income Tax Law & Practice-II (Income from other sources)

Tax is reduced from casual incomes at.................... 

• A. 10% + surcharge and cesses.

• B. 20% + surcharge and cesses.

• C. 30%.

• D. none of these.

The income from the sale of house hold furniture is ...................... 

• A. Taxable income

• B. Exempted income 

• C. Capital gain

• D. Business income

Income from horse race falls under the head

• A. Salary

• B. Other sources

• C. Profession

• D. Business

Income from subletting of house property is taxable under the head :

• A.Capital Gain

• B.Income from Other Source

• C.Income from House Propert

• D.Profits & Gains of Business or Profession

Mohan Received a gift of Rs.35,000/- each from his 3 friends on 31th March 2021

• A.105,000 is taxable

• B.50000 is taxable

• C.Not taxabl

• D.55000 is taxable