Top 250+ Solved Direct Taxation MCQ Questions Answer
Q. Rent after deducting municipal taxes is Rs. 2,00,000, the amount of taxable income fromhouse property is:
a. Rs. 2,00,000
b. Rs. 1,40,000
c. Rs. 2,60,000
d. None of above
Q. Contribution to approved research (not scientific) institution in case of a business man is:
a. 100% of such amount
b. 125% of such amount
c. 175% of such amount
d. None of above
Q. Rebate u/s 87A is allowed to an Individual who is resident in India and whose total incomedoes not exceed ________.
a. Rs. 2,50,000
b. Rs. 3,00,000
c. Rs. 5,00,000
d. None of the above
Q. The payment under Bhopal Gas Leak Disaster shall be______
a. Fully taxable
b. Partially taxable
c. Exempt
d. None of the above
Q. The time limit for acquisition or construction of self-occupied house property for claimingdeduction of interest is:
a. 3 years
b. 5 years
c. 8 years
d. 10 years
Q. Tax to be collected at source in case of motor vehicle value exceeding ________.
a. Rs. 2,50,000
b. Rs. 5,00,000
c. Rs. 7,50,000
d. Rs. 10,00,000
Q. Threshold limit for person having income from business u/s 44AD is_______.
a. 50 Lakh
b. 80 Lakh
c. 1 crore
d. 2crore
Q. Tax to be collected at source in case of commission on sale of lottery tickets.
a. 1%
b. 2%
c. 5%
d. 10%
Q. When a person having agricultural lands sells the seeds taken from such lands in anursery, which is part of the said lands, the income from such sale is treated as
a. Business income
b. Agricultural income
c. Income from other sources
d. None of the above
Q. An employer has paid medical insurance premium of Rs. 12,000 in respect of a salariedemployee drawing annual salary of Rs. 6 lakhs. The amount of perquisite charged in the hands of employee is
a. Nil
b. Rs. 6,000
c. Rs.12,000
d. None of the above
Q. The rate of depreciation for a block of assets consisting of buildings used as factory is
a. 2.5%
b. 5%
c. 10%
d. None of the above