Top 150+ Solved Business Taxation MCQ Questions Answer
Q. The income received and accrued outside India from a business controlledor profession set up in India, the tax incidence in case of resident is .
a. taxable
b. non-taxable
c. partly taxable
d. none of the above
Q. The income received and accrued outside India from a business controlledor profession set up in India, the tax incidence in case of non-resident is .
a. taxable
b. non-taxable
c. partly taxable
d. none of the above
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
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
Q. The tax incidence for company or firm in which income received outsideIndia from a source controlled from India for resident is .
a. taxable
b. non-taxable
c. partly taxable
d. none of the above
Q. The tax incidence for company or firm in which income received outsideIndia from a source controlled from India for non-resident is .
a. non-taxable
b. taxable
c. partly taxable
d. none of the above
Q. …………. is exempted from income tax.
a. interest from indian company
b. dividend from foreign company
c. cooperative dividend
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
Q. ……………….of Income Tax Act is related to residential status.
a. section 2
b. section 6
c. section 5
d. section 4
Q. Resident of India includes .
a. ordinarily resident
b. not ordinarily resident
c. nri
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
Q. The number of income source for a person are .
a. one head
b. two heads
c. various heads
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
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
Q. …………..comes under agricultural income.
a. tea garden
b. commodity farming
c. all of the above
d. none of the above