Top 150+ Solved Business Taxation MCQ Questions Answer
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
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
Q. Payment of Rs. ` 45,000 made in cash towards purchases of medicines. Theamount of disallowance under section 40A(3) is -
a. rs 45,000
b. rs 30,000
c. nil
d. rs 20,000
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
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
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