Top 150+ Solved Income Tax Law and Practices MCQ Questions Answer
Q. Income received in India whether occurred in India or outside India, the tax incidence in case of non-resident is .
a. Taxable as per slabs
b. Exempted from slab
c. Partly exempted
d. None of the above
Q. Income deemed to be received in India whether occurred in India or outside India, the taxincidence in case of resident is .
a. Taxable as per slabs
b. Exempted from slab
c. Partly exempted
d. None of the above
Q. The income received and accrued outside India from a business controlled or profession setup in India, the tax incidence in case of resident is .
a. Taxable
b. Non-taxable
c. Partly taxable
d. None of the above
Q. The income received and accrued outside India from a business controlled or profession set up in India, the tax incidence in case of non-resident is .
a. Taxable
b. Non-taxable
c. Partly taxable
d. None of the above
Q. The tax incidence for company or firm in which income received in India and company is resident is .
a. Taxable
b. Non-taxable
c. Partly taxable
d. None of the above
Q. The tax incidence for company or firm in which income received in India and company fornon-resident is .
a. Taxable
b. Non-taxable
c. Partly taxable
d. None of the above
Q. The tax incidence for company or firm in which income received outside India from a source controlled from India for resident is .
a. Taxable
b. Non-taxable
c. Partly taxable
d. None of the above
Q. The tax incidence for company or firm in which income received outside India from a sourcecontrolled from India for non-resident is .
a. Non-taxable
b. Taxable
c. Partly taxable
d. None of the above
Q. __________ is exempted from income tax.
a. Interest from Indian company
b. Dividend from foreign company
c. (a) Cooperative dividend
d. (d) Dividend from Indian company
Q. Which section of the Income Tax Act exempted incomes have been mentioned?
a. Section 80C
b. Section 80DD
c. Section 10
d. Section 2
Q. _________ of Income Tax Act is related to residential status.
a. Section 2
b. Section
c. Section 5
d. Section 4
Q. Resident of India includes .
a. Ordinarily resident
b. Not ordinarily resident
c. NRI
d. Both (a) and (b)
Q. The Company may have the residential status as .
a. Resident or Non-resident
b. Not ordinarily resident
c. Non-resident
d. Resident
Q. The meaning of exempted income is .
a. Not included in total income
b. Agricultural income
c. Not taxable under income tax
d. All of the above
Q. The number of income source for a person are .
a. One head
b. Two heads
c. Various heads
d. Any of the above