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What is the primary criterion for an income to be taxed under the head "Salaries"?
  • a)
    The income is earned from any business or profession.
  • b)
    The income is received from a foreign government or enterprise.
  • c)
    There exists a relationship of an employer and employee.
  • d)
    The income is earned from speculative transactions.
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
What is the primary criterion for an income to be taxed under the head...
For income to be taxed under the head "Salaries," it is essential that a relationship of an employer and employee exists. This relationship should be that of a master and servant, where the employer directs the work and the employee follows the instructions. This criterion ensures that the income is derived from employment and not from other sources.
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What is the primary criterion for an income to be taxed under the head "Salaries"?a)The income is earned from any business or profession.b)The income is received from a foreign government or enterprise.c)There exists a relationship of an employer and employee.d)The income is earned from speculative transactions.Correct answer is option 'C'. Can you explain this answer?
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What is the primary criterion for an income to be taxed under the head "Salaries"?a)The income is earned from any business or profession.b)The income is received from a foreign government or enterprise.c)There exists a relationship of an employer and employee.d)The income is earned from speculative transactions.Correct answer is option 'C'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the primary criterion for an income to be taxed under the head "Salaries"?a)The income is earned from any business or profession.b)The income is received from a foreign government or enterprise.c)There exists a relationship of an employer and employee.d)The income is earned from speculative transactions.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the primary criterion for an income to be taxed under the head "Salaries"?a)The income is earned from any business or profession.b)The income is received from a foreign government or enterprise.c)There exists a relationship of an employer and employee.d)The income is earned from speculative transactions.Correct answer is option 'C'. Can you explain this answer?.
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