Tax Book 2023

Income From Other Sources Chapter- 13

(c) Exempt from tax

Q.24 Income of an author is chargeable to tax under the head _____.

(a) income from salary

(b) business income

(c) income from other sources

(d) income from property

Q.25 The provisions of inadmissible expenses u/s 21 are ___ on the deductions claimed against income
from other sources.
(a) applicable
(b) not applicable
(c) none of ‘a’ or ‘b’

Q.26 Where net amount received by the recipient for income covered under FTR the ____ amount
received will be offered for tax under the ITO, 2001.
(a) gross
(b) net
(c) none of above

ANSWERS

1 (a) 2 (c) 3 (b) 4 (d) 5 (d)

6 (c) 7 (a) 8 (d) 9 (c) 10 (d)

11 (c) 12 (c) 13 (d) 14 (d) 15 (b)

16 (c) 17 (a) 18 (d) 19 (b) 20 (a)

21 (c) 22 (c) 23 (b) 24 (c) 25 (a)

26 (a)