Top 150+ Solved Income Tax Law and Practice MCQ Questions Answer
Q. The losses of speculation business can be carried forward for:
a. 4 years
b. 8 years
c. 12 years
d. None of these
Q. The losses from specified business can be carried forward and can be set-off againstprofits of:
a. Specified business only
b. Speculative business only
c. Non-speculative business only
d. Any business
Q. S T C L can be carried forward and set-off against:
a. S T C G only
b. L T C G only
c. S T C G or L T C G
d. Income under any head
Q. L T C L can be carried forward and set-off against:
a. L T C G only
b. S T C G only
c. S T C G or L T C G
d. Income under any head
Q. Loss from the activity of owning and maintaining race horses can be carried forward for:
a. 4 years
b. 6 years
c. 8 years
d. None of these
Q. Only................are entitled to deduction under section 80 U.
a. Firms
b. Individuals
c. Companies
d. Co-operative societies
Q. The amount of deduction under section 80 C is restricted to:
a. Rs: 1,00,000
b. Rs: 1,50,000
c. Rs: 2,00,000
d. Rs: 5,00,000
Q. The aggregate amount of deduction under section 80 C, section 80 CCC and section 80CCD(1) shall not exceed:
a. Rs: 1,00,000
b. Rs: 1,50,000
c. Rs: 2,00,000
d. Rs: 5,00,000
Q. The deduction in respect of medical treatment of a dependent who is a person withdisability is:
a. Rs: 1,50,000
b. Rs: 1,25,000
c. Rs: 75,000
d. None of these
Q. The deduction in respect of medical treatment of a dependent who is a person withdisability is:
a. Rs: 1,50,000
b. Rs: 1,25,000
c. Rs: 75,000
d. None of these
Q. Which among the following deals with deduction in respect of donation to certain funds,charitable institution, etc?
a. 80E
b. 80EE
c. 80G
d. 80GG
Q. With effect from A. Y. 2018-19, donation should be paid in any mode other than cashwhen it exceeds:
a. Rs: 2,000
b. Rs: 2,500
c. Rs: 3,000
d. Rs: 10,000
Q. Which among the following deals with deduction in respect of royalty income ofauthors?
a. 80JJA
b. 80QQB
c. 80TTB
d. 80P