The term "Income" is described in the Income Tax Act, 1961 under:
Show Hint
- Section 2(40)
- Section 3
- Section 10E
- Section 2(24)
The Correct Option is D
Solution and Explanation
Top Questions on Tax Law
- Read the given statements and choose the correct option: Statement 1: Agricultural income is exempt from tax under Section 10(1) of the Income Tax Act, 1961. Statement 2: Tax on non-agricultural income in case non-agricultural income exceeds the basic exemption limit and agricultural income exceeds ₹5000 is determined by the scheme of partial integration of non-agricultural income with agricultural income.
- Mr. X deposits ₹65,000 in the term deposit of 5 years with the Post Office to avail tax deduction under Section 80C. Assuming Mr. X does not opt for concessional tax regime u/s 115BAC of the Income Tax Act, 1961. On the basis of the above problem, select the correct option.
- Rent-free accommodation provided by employer to employee is \(\underline{\hspace{1cm}}\).
- The term "Income" is described in the Income Tax Act, 1961 under \(\underline{\hspace{1cm}}\).
- Mr X deposits ₹65,000 in a 5-year term deposit with the Post Office to avail deduction under Section 80C. Assuming Mr X does not opt for the concessional regime u/s 115BAC, what is correct?
Questions Asked in AIBE exam
According to the Land Acquisition Act, 2013, governments can acquire land for:
(i) Strategic purpose.
(ii) Projects for Families Affected by Projects.
(iii) For public-private partnership projects, where government ownership of land will remain with the government.
- AIBE - 2025
- Land Acquisition Act
Which of the following legislations has been included under the Social Security Code, 2020?
(1) The Maternity Benefit Act, 1961
(2) The Payment of Gratuity Act, 1972
(3) The Payment of Bonus Act, 1965
(4) The Employment Exchanges (Compulsory Notification of Vacancies) Act, 1959
- AIBE - 2025
- Labour & Industrial Law
Which of the following is/are not procedural safeguards against bias?
1. Acting in fraudulent manner
2. Peer-review of valuation if needed
3. Disclosure of prior association with client
4. Disclosure of conflict of interest source
- AIBE - 2025
- Professional Ethics
Which of the following is/are not grounds for judicial review of administrative action?
1. Illegality
2. Irrationality
3. Proportionality
4. Public opinion
- AIBE - 2025
- Administrative Law
Read the given statements and choose the correct option.
1. In PIL cases, the Court plays a passive role like in traditional cases.
2. PIL is mainly for individual disputes.
- AIBE - 2025
- Public Interest Litigation