List of top Legal Studies Questions on Income Tax Law and Accounts asked in AIBE

'Income' is defined under Section 2(24) of the Income Tax Act, as
Which of the following is not included in the Capital Asset under Section 2 (14) of Income Tax Act,
Income Tax Act was enacted in
Which of the following is not included in the Capital Asset under Section 2 (14) of Income Tax Act,

Sara and Tara were partners in a firm. Their capitals as on 1st April, 2023 were ₹ 6,00,000 and ₹ 4,00,000 respectively. On 1st October, 2023, Tara withdrew ₹ 1,00,000 for personal use. According to the partnership deed, interest on capital was allowed @ 8% p.a.
The amount of interest allowed on Tara's capital for the year ended 31st March, 2024 was:

Income which accrue or arise outside India but are directly received into India are taxable in case of
Section 154 under IT Act is
'Income' is defined under Section 24 of the Income Tax Act, as
Income Tax Act was enacted in