Top 150+ Solved Income Tax Law and Practices MCQ Questions Answer
Q. Deduction under Section 80C can be claimed for fixed deposit made in any scheduled bank, if the minimum period of deposit is .
a. 10 Years
b. 5 Years
c. 12 Years
d. 8 Years
Q. Which of the following is covered under section 80D of the Income Tax Act, 1961?
a. Medical treatment of handicapped dependent
b. Medical insurance premium
c. Reimbursement of medical expenses
d. Repayment of loan taken for higher education
Q. The deduction available under section 80QQB in respect of royalty income of authors shall not exceed _____________in previous year.
a. 1,50,000
b. 2,50,000
c. 3,00,000
d. 1,00,000
Q. For the purpose of deduction under section 80DD, which of the following statements is/are true?
a. Assessee is either and individual or a HUF
b. Assessee is resident of India
c. Assessee has a dependent disable relative
d. All of the above
Q. The maximum deduction one can clam under section 80D is .
a. 30,000
b. 50,000
c. 40,000
d. 60,000
Q. Amount of deduction in case of a person with severe disability under section 80U willbe______________ .
a. (a) 75,000
b. (b) 85,000
c. (c) 1,50,000
d. (d) 1,25,000
Q. Aggregate amount of deduction under 80C, 80CCC and 80CCD cannot exceed_________..
a. 1,10,000
b. 1,20,000
c. 1,30,000
d. 1,50,000
Q. In the case of every senior citizen resident in India, tax rebate under section 87A is ______.
a. 5,000
b. 2,000
c. 1,000
d. Nil
Q. The provisions regarding TDS on Salaries are contained in .
a. Section 190
b. Section 191
c. Section 192
d. Section 193
Q. If the payee does not furnish PAN and TDS under section 194, dividends shall be made @__________ .
a. (a) 20%
b. (b) 15%
c. (c) 10%
d. (d) Nil
Q. Deduction of tax at source for insurance commission is @ ___________________.
a. 10%
b. 15%
c. 20%
d. 12%