Top 250+ Solved Direct Taxation MCQ Questions Answer
Q. Where assessment has not been completed, belated income tax return for assessment year 2018-19 can be filed upto
a. 31.03.2019
b. 31.02.2019
c. 31.03.2020
d. 31.12.2019
Q. Following form number is to be used for filing the return of income by an individualhaving business income?
a. Form No. 1
b. Form No. 2
c. Form No. 5
d. Form No. 3
Q. W.e.f. 01-04-2016, quoting ‘Permanent Account Number’ (PAN) is compulsory in thefollowing transaction –
a. Payment to LIP exceeding Rs. 50,000 in a financial year
b. Sale or purchase of any immovable property valued at Rs. 4,00,000
c. Time deposit upto Rs. 35,000 with a bank
d. None of the above
Q. Pelf Finstock Ltd. filed its return of Income Tax for A.Y. 2018-19 on 30th March, 2019. The notice for making scrutiny assessment under section 143(3) can be served on the assesseeupto –
a. 31st December 2019
b. 30th September 2019
c. 31st March 2019
d. 30th September 2020
Q. When assessment has not been completed, revised return can be filed within ______from the end of the relevant previous year.
a. one year
b. 6 months
c. 1 month
d. 2 years
Q. Which of the following is not a case of deemed ownership of house property?
a. Transfer to spouse for inadequate consideration
b. Transfer to minor child for inadequate consideration
c. Co-owner of a Property
d. None of the above
Q. Where assessment has not been completed, belated income tax return for the A.Y. 2018-19 can be filed up to:
a. 31.03.2019
b. 31.02.2019
c. 31.03.2020
d. Cannot be filed belatedly.
Q. An individual estimates that he is required to pay Rs. 1,00,000 as advance tax. By 15thof December, how much amount must be paid by the individual?
a. Rs. 30,000
b. Rs. 75,000
c. Rs. 1,00,000
d. Nil
Q. Section 80 RRB the Income-tax Act, 1961 deals with deduction from gross total income in respect of income by way of
a. Interest on debentures of a government company
b. Royalty income on authors
c. Royalty on patents
d. Royalty from text-books
Q. Preliminary expenses that can be amortized under the Income-tax Act 1961 has to be restricted to ______________ of the cost of the Project.
a. 5%
b. 15%
c. 20%
d. None of the above
Q. Maximum Marginal Rate for the A.Y. 2018-19 is _______________________ .
a. 34.5%
b. 33.99%
c. 35.535%
d. None of the above
Q. Rebate u/s 87A can be claimed by
a. Any resident
b. Resident Individual
c. Any person
d. Any person other than non-resident
Q. As per section 115BBDA dividend from Indian companies is taxable in the hands of certain recipients at _______ when the aggregate dividend exceeds _______.
a. 10%, 1 lakh
b. 15%, 10 lakhs
c. 10%, 10 lakhs
d. 5%, 5 lakhs
Q. ICDS VIII deals with ____________________ .
a. Government Grants
b. Securities
c. Revenue recognition
d. Construction Contract