Multiple Choice
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.
Correct Answer:
Verified
Correct Answer:
Verified
Q8: Gratuity received by a government employee is
Q9: Loss due to fire of hired machinery
Q10: _ is / are empowered to levy
Q11: Under the income- tax act, the incidence
Q12: CBDT is control by _.<br>A)central government<br>B)state government<br>C)both
Q14: Who among the following may be "not
Q15: Compensation received for loss of trading asset
Q16: In which year Income Tax was levied
Q17: Income Tax Act came into force on............................<br>A)01-04-1961<br>B)01-04-1962<br>C)01-04-1956<br>D)01-04-1965
Q18: Agricultural income in Pakistan is assessable for........................<br>A)resident<br>B)not