Taxes in India mcq questions and answers for competitive exams

Deduction u/s 80GGA in respect of certain donation for scientific research or rural development is allowed to:

In respect of shares held as investment, while computing the capital gains, securities transaction tax paid in respect of sale of listed shares sold in a recognized stock exchange,

Definition of 'person' under Income Tax Act, 1961 is:

Loss under the head capital gain in a particular assessment year can:

In case an assessee is engaged in the business of plying hiring or leasing goods carriage, presumption income scheme under section 44AE is applicable if the assessee is the owner of maximum of :

Deduction under section 80C shall be allowed for :

Deduction under section 80D in respect of medical insurance premium is allowed to:

The power to levy service tax is now provided by the Constitution vide entry No.

Service tax was initially levied in India by the Constitution vide entry No.

The phenomenon of a continuous decrease in prices of goods and services in the economy is, known as ?

The term 'assessment year' is defined

Name the committee to recommend that granting relief to FIIs on Minimum Alternate Tax (MAT) will be a positive thing for the market?

Devaluation of currency will be more beneficial if -

For claiming exemption under section 54B the assessee should acquire:

Direct taxes includes