Top 150+ Solved Income Tax Law and Practice MCQ Questions Answer
Q. Health and education Cess is charged on the amount of:
a. Total income
b. Gross Total Income
c. Income tax
d. Income tax and Surcharge
Q. Which among the following is included in income?
a. Sum received under Key man Insurance Policy
b. LPG subsidy
c. Pin money received by wife from her husband
d. Reimbursement of expense
Q. Income accruing in India is assessable for :
a. Ordinarily resident
b. Not ordinarily resident
c. Non resident
d. All the above
Q. Agricultural income from China is assessable for:
a. Ordinarily resident
b. Not ordinarily resident
c. Non resident
d. All the above
Q. Every year the residential status of an assessee:
a. will certainly change
b. will not change
c. may change
d. none of the above
Q. interest credited to a recognised provident fund account is exempt up to:
a. 8%
b. 8.5%
c. 9%
d. 9.5%
Q. The amount of exemption in respect of academic allowance is limited to:
a. Rs: 5,000 p.
b. Actual amount spent
c. a or b whichever is less
d. None of the above
Q. Children education allowance is exempted for.............. children.
a. One
b. Two
c. Three
d. Four
Q. Which among the following is a fully exempted allowance?
a. Uniform allowance
b. HRA
c. Foreign allowance
d. CCA
Q. Income from salary includes:
a. Profit in lieu of salary
b. Perquisites
c. Allowances
d. All of the above
Q. Salary received by a partner from his firm is an income under the head:
a. Salaries
b. Profits and gains from business or profession
c. Capital gains
d. Other sources
Q. Salary received by MLA or MP is treated as income under the head:
a. Salaries
b. Profits and gains from business or profession
c. Capital gains
d. Other sources
Q. Family pension received by a widow is treated as an income under the head:
a. Salaries
b. Profits and gains from business or profession
c. Capital gains
d. Other sources