Top 150+ Solved Audit Taxation MCQ Questions Answer
Q. In the case of companies, income tax return is signed by:
a. Manager
b. Board of Directors.
c. 3.General Manager.
d. Managing Director
Q. In the absence of the individual assesses, return of income can be signed by…………………
a. Legal Heir
b. Spouse.
c. Any Person.
d. Authorized person
Q. The filing of return of loss in case of a person other than a company or firm is:
a. mandatory
b. not mandatory
c. mandatory if the assesses has to carry forward the loss which are allowed to be carried forward & set off
d. none
Q. Amount of deduction in case of a person with severe disability under section 80U will be:
a. Rs. 50,000
b. Rs. 75,000
c. Rs. 1,00,000
d. Rs. 1,50,000
Q. An individual needs to pay Rs. 1,00,000 as advance tax. By 15th of December, howmuch amount must be paid by the individual:
a. Rs. 30,000
b. Rs. 60,000
c. Rs. 1,00,000
d. Nil
Q. Mr. DS during the previous year 2018-19 made a payment outside India to a nonresident on which TDS was not paid upto time allowed under section 200. However,such TDS was deducted and paid on 30th September 2019. When shall deduction of this expenditure be allowed to assessee?
a. Previous Year 2018-19
b. Previous Year 2019-20
c. Previous Year 2017-18
d. Not allowed deduction
Q. Payment of Rs. ` 45,000 made in cash towards purchases of medicines. The amount of disallowance under section 40A(3) is -
a. Rs 45,000
b. Rs 30,000
c. Nil
d. Rs 20,000
Q. Director sitting fees will be Chargeable Under which head?
a. Income from house property
b. Income from other sources
c. Income from PGBP
d. Income from Capital gain
Q. Rental income from the business of leasing out properties would be taxable underthe head_______
a. Income from house property
b. Income from other sources
c. Income from PGBP
d. Income from Capital gain
Q. ITAT all decisions are taken by majority of member’s, if the Members are equallydivided then the final vote will have of
a. President
b. Chairman
c. Assessing officer
d. Majority Of member
Q. For ITAT special powers of stay is available and stay will automatically Get vacated ifmatter is not decided in time of.
a. 6 months
b. 9 months
c. 12 months
d. 18 months
Q. Assessment under following section is termed as scrutiny assessment
a. 143(3)
b. 144
c. Both of the above
d. None of the above
Q. An appeal to the Commissioner of Income-tax (Appeals) shall be filed in Form No.________.
a. 35
b. 36
c. 34C
d. 35B