Top 150+ Solved Business Taxation MCQ Questions Answer

From 136 to 141 of 141

Q. Amount of deduction in case of a person with severe disability undersection 80U will be:

a. rs. 50,000

b. rs. 75,000

c. rs. 1,00,000

d. rs. 1,50,000

  • c. rs. 1,00,000

Q. Deduction under section 80C to 80U cannot exceed:

a. gross total income

b. total income

c. income from business or profession

d. income from house property

  • a. gross total income

Q. Rental income from the business of leasing out properties would be taxableunder the head_______

a. income from house property

b. income from other sources

c. income from pgbp

d. income from capital gain

  • c. income from pgbp

Q. As per Section 2(e a), which of the following is an asset in case of anindividual:

a. cash in hand up to rs. 50,000

b. shares

c. debentures or bonds

d. motor car used for official purposes

  • a. cash in hand up to rs. 50,000

Q. Income Tax is levied on the ___________ of a person.

a. total income

b. total income-debt

c. gross total income

d. net income-debt perquisites

  • a. total income
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