Top 150+ Solved Income Tax Law and Practices MCQ Questions Answer
Q. The residential status of an Individual can be:
a. Resident and Ordinary Resident
b. Resident but not ordinary resident
c. Non resident
d. All of the above
Q. Citizenship is the criteria of assessment
a. true
b. false
c. somewhat agree
d. partially correct
Q. An individual is said to be resident in India if he stays for_ days during theprevious year
a. 180
b. 182
c. 183
d. 184
Q. Income received or deemed to be received in India is taxable for
a. ROR
b. RNOR
c. NR
d. All of the above
Q. Gifts received from relatives on the occasion of marriage would be
a. taxable
b. exempted
c. both of the above
d. Neither of the above
Q. Gifts received from others on the occasion other than marriage would be taxableif the aggregate amount exceeds
a. Rs 50,000
b. Rs 51,000
c. Rs 52,000
d. Neither of the above
Q. The calendar year starts from
a. 1st Jan to 31st Dec
b. 1st April to 31st March
c. 1st Oct to 30th September
d. 1st July to 31st August
Q. Receipt of Income and remittance of income are different things
a. True
b. False
c. Somewhat agree
d. All of the above
Q. Ordinary resident must stay in India for_ days during the previous year
a. 60 days
b. 65 days
c. 70 days
d. neither of the above
Q. A resident must stay in India for 730 days during the previous
a. 6 years
b. 8 years
c. 7 years
d. 9 years
Q. A person is said to be of Indian origin if he or his parent were born in
a. undivided india
b. divided india
c. partitioned india
d. Neither of the above
Q. Receipt by a member from HUF is fully exempt
a. true
b. false
c. somewhat agree
d. all of the above
Q. Income of minor child clubbed with the income of parents gets an exemption of
a. Rs 1500
b. Rs 3000
c. Rs 4000
d. Rs 2000
Q. To determine the residential status of HUF, the residential status of
a. member is considered
b. karta is considered
c. co-parceners is considered
d. neither of the above