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

ABC Pvt. Ltd. has a business loss of ₹ 10 lakhs. There is unexplained share application money to the tune of ₹ 25 lakhs.The total income of the company will be:

• (A) 15 lakhs

• (B) 35 lakhs

• (C) 25 lakhs

• (D) None of the above

Ms. Laxmi received ₹ 60,000 by way of family pension from the State Government.The amount of family pension eligible for exemption under section 10(79) is:

• (A) ₹ 60,000

• (B) ₹ 40,000

• (C) ₹ 20,000

• (D) ₹ 15,000

T.D.S. is not deducted on lottery income up to…..Amount

• A) 10,000

• B) 15,000

• C) 5,000

• D) None of the above

The amount of dividend received from cooperative society is…..

• A) Partly taxable

• B) Exempted

• C) Taxable

• D) All of the above

Income from others sources is known as…?

• A) Films head of income

• B) Residuary head of income

• C) Marriage heads of income

• D) None of the Above