Which of the following is not a capital receipt? – McqOptions

MCQOPTIONS

1.	Which of the following is not a capital receipt?
A.	'Salami' for settlement of Tenancy
B.	Insurance claim received on machinery lost by fire
C.	Lump sum received on sale of shares
D.	Goods sold for cash
Answer» E.

Discussion

No Comment Found

Related MCQs

Under the income- tax act, the incidence of taxation depends on......................
Unabsorbed depreciation can be carried forward for set off.......................
Residential status is determined for......................
Income Tax Act came into force on............................
Income by way of rent of agricultural land is ..............
Receipt of amount on maturity of LIC Policy is.............................
Compensation received for loss of trading asset is a....................
Compensation for cancellation of a licence by the government resulting in cessation of businessis...................................
Salary received by the manager of an agricultural farm is .................................
A citizen of India who goes abroad for the purpose of employment, he must stay in India at least for............................. days to become a resident