Top 150+ Solved Income Tax Law and Practices MCQ Questions Answer
Q. Deduction under section 80 C is available for investments in
a. Unit link insurance plan
b. LIC
c. Statutory provident fund
d. All of these
Q. Deduction under section 80 CCD is available to investment made in the fund of
a. State government
b. Deemed government
c. Centralgovt.
d. None of these
Q. Maximum deduction under section 80CCE is subject to a maximum of
a. Rs. 5,00,000.
b. Rs.2,00,000.
c. Rs.1,00,000.
d. Rs.1,50,000.
Q. .Deduction under section 80D is available on
a. Health Insurance Premium
b. Life Insurance Premium
c. Education Insurance Premium
d. None of these
Q. Deduction under section 80DD is available to
a. dependent
b. disabled dependent
c. Less dependent
d. None of these
Q. Deduction under sec 80DD is available to the extent of
a. Rs 75,000
b. Rs 50,000
c. Rs 25,000
d. None of these
Q. Deduction under section 80DDB is available to the extent of
a. 40,000
b. 20,000
c. 30,000
d. None of these
Q. Deduction under 80 QQB is available in respect of
a. royalty income
b. health
c. education
d. none of these
Q. Every assesse has to file return of income if their taxable income exceeds
a. gross total income
b. total income
c. net income
d. basic exemption limit
Q. .The due date of filing return of income in case of company is
a. 30th September
b. 31st march
c. 1stapril
d. none of these
Q. if total income is up to 50,000 then the late fees of filing ROI IS
a. 1,000
b. 2,000
c. 3,000
d. NONE OF THESE
Q. If total income is up to 5,00,000 then the late fees of filing ROI is
a. 1,000
b. 5,000
c. 3,000
d. NONE OF THESE
Q. Sales tax collected from the buyer of the goods is
a. Capital receipt
b. Revenue receipt
c. Deferred revenue receipt
d. Profits in lieu of salary