Maximum amount exempted u/s 10(10B) - Compensation on retrenchment.

Determine if following Income of registered political parties :

A) Income from House Property

B) Capital Gains

are taxable or exempt.

The share of profits from the firm received by an individual as a Partner shall be fully Taxable.

1 ) Scholarship received by a student to meet cost of education is :

2) Student receives scholarship of Rs.25000 but spends only Rs. 13000 to meet the cost of education. The balance Rs. 12,000 is :

Compensation received from Reliance Ltd by individual(employee of Reliance Ltd) on account of natural disaster is :

Modi Ltd is a domestic company and Trump Ltd is a foreign company.

Case 1 )  Dividend received by Modi Ltd from Trump Ltd is

Case 2)  Dividend received by Trump Ltd from Modi Ltd is

Casual income received by the individual is :

Choose appropriate option.

As per section 10(19A) -

Income from supply of water or electricity by a local authority outside its jurisdictional area  is -

Receipt of accumulated balance in PPF is -

Amount received under a Life Insurance policy exempt ( if conditions satisfy) u/s -

Income from dividend or interest on securities is fully exempt if accrues or arises to a Sikkimese individual.

Capital gain arising from compulsory acquisition of urban agricultural land shall be :

Interest received from post office saving bank account is -

Salary received by Member of Parliament is taxable.