As per sec.60, income is clubbed if – McqOptions

MCQOPTIONS

1.	As per sec.60, income is clubbed if
A.	Asset yielding income is transferred as revocable transfer
B.	Income is transferred without transferring asset yielding income
C.	Asset yielding income is transferred as irrevocable transfer
D.	None of the above
Answer» C. Asset yielding income is transferred as irrevocable transfer

Discussion

No Comment Found

Related MCQs

.A is entitled to children education allowance @ Rs. 80 p.m. per child for 3 children amounting Rs. 240 p.m. It will be exempt to the extent of :
profit or income of that particular year.
Capital LosseCan be carry forward up to next assessment years from the assessment year in which the loss was incurred
of Income Tax Act is related to residential status
is a retirement benefit given by the employer to the employee in consideration of past services.
means fixed quantum of money given regularly in addition to salary to meet particular requirement
Medical insurance premium incurred for senior citizen is eligible for deduction up to________ under section 80D.
Income tax is a:
An Indian citizen leaving India during the previous year for employment purpose is saidto be resident if
As per section 271H, where a person fails to file the statement of tax deducted/collected at source i.e. TDS/TCS return on or before the due dates prescribed in this regard, then he shall be liable to pay penalty under section 271H. Maximum penalty that can be levied is ______.