Q. Agricultural income is completely exempted for assessment year
✅ Correct Answer: (A)
1974-75
Business Taxation MCQs and Notes
Q. As per Income Tax Act, 1961, income tax is charged on the income of
at a rates which are prescribed by the Finance Act of relevant assessment
year.
at a rates which are prescribed by the Finance Act of relevant assessment
year.
✅ Correct Answer: (C)
previous year
Q. Income tax is collected on all types of income except .
✅ Correct Answer: (A)
agricultural income