Income Tax Act Quiz

Purchase and sale of a commodity with a view to make profit (correct)

Any trade, commerce or manufacture

Any adventure or concern in the nature of trade, commerce and manufacture

All of the above

Purchase and sale of a commodity without a view to make profit

Nature of commodity and competition

Nature of commodity and profit margin

Nature of commodity and market demand

Nature of transaction and volume of sales

Nature of commodity and nature of transaction (correct)

Doing activity for the first time without knowing the outcome (correct)

Exploring new markets

Investing in stocks and bonds

Engaging in risky ventures

Starting a new company

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