Top 150+ Solved Business Taxation MCQ Questions Answer

From 16 to 30 of 141

Q. The tax incidence for company or firm in which income received in Indiaand company is resident is .

a. taxable

b. non-taxable

c. partly taxable

d. none of the above

  • a. taxable

Q. The tax incidence for company or firm in which income received in Indiaand company for non-resident is .

a. taxable

b. non-taxable

c. partly taxable

d. none of the above

  • a. taxable

Q. …………. is exempted from income tax.

a. interest from indian company

b. dividend from foreign company

c. cooperative dividend

d. dividend from indian company

  • d. dividend from indian company

Q. Which section of the Income Tax Act exempted incomes have beenmentioned?

a. section 80c

b. section 80dd

c. section 10

d. section 2

  • c. section 10

Q. ……………….of Income Tax Act is related to residential status.

a. section 2

b. section 6

c. section 5

d. section 4

  • b. section 6

Q. Resident of India includes .

a. ordinarily resident

b. not ordinarily resident

c. nri

d. both (a) and (b)

  • d. both (a) and (b)

Q. The Company may have the residential status as .

a. resident or non-resident

b. not ordinarily resident

c. non-resident

d. resident

  • a. resident or non-resident

Q. The number of income source for a person are .

a. one head

b. two heads

c. various heads

d. any of the above

  • d. any of the above

Q. The sum of various heads is called as .

a. taxable income

b. total income

c. gross total income

d. adjusted income

  • c. gross total income

Q. The agricultural income includes .

a. income from sale of crop

b. income from preparation of crop

c. income from nursery

d. all of the above

  • d. all of the above

Q. …………..comes under agricultural income.

a. tea garden

b. commodity farming

c. all of the above

d. none of the above

  • c. all of the above
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