Match the Income-tax Act, 1961 provisions with their subject matter, subject to statutory eligibility and conditions.
List I: A. 80GG; B. 80GGA; C. 80GGB; D. 80GGC.
List II: I. Qualifying non-cash political contributions by Indian companies; II. Qualifying non-cash political contributions by other eligible assessees; III. Certain donations for scientific research or rural development; IV. Eligible rent paid.
A - IV, B - III, C - I, D - II
80GG covers eligible rent; 80GGA specified scientific research/rural-development donations; 80GGB political contributions by Indian companies; 80GGC eligible other political contributions, with exclusions and no cash deduction. Thus A–IV, B–III, C–I, D–II.
Important Questions from Deduction and Collection of tax at source
- Identify the person as per Income Tax Act, for whom the Mitakshara School of Hindu law related to succession is applicable to __________.
- Change of Possession of goods from one person to another for some specific purpose is __________.
- Which of the following statements is not correct ?
- Assertion (A) : If the interest is payable outside India, tax must be deducted at source.
Reason (R) : If tax has not been deducted at source, the amount paid as interest will not be allowed as a deduction in computing business income.
Select the correct answer from the code given below : Income received and accrued or arisen outside India from a business controlled in or a profession set up in India, is taxed in the hands of which of the following?
a. Every citizen of India
b. Domicile of India
c. Ordinary Resident
d. Non-Ordinarily Resident
e. Non-Resident
Choose the correct answer from the options given below:
