Top 150+ Solved Income Tax MCQ Questions Answer

From 16 to 30 of 159

Q. Agricultural income in Pakistan is assessable for........................

a. resident

b. not ordinarily resident

c. non-resident

d. not taxable

  • a. resident

Q. The following is not taxable as income under the head "Salaries".

a. commission received by a full time director

b. remuneration received by a partner

c. allowances received by an employee

d. free accommodation given to an employee

  • b. remuneration received by a partner

Q. Gratuity received by a government employee is .......................

a. fully exempted

b. partly exempted

c. fully taxable

d. exempted up to rs:1,00,000

  • a. fully exempted

Q. __________ is / are empowered to levy and collect income tax.

a. state governments

b. central government

c. rbi

d. local self government department

  • b. central government

Q. In which year Income Tax was levied in India for the first time ?

a. 1960

b. 1961

c. 1860

d. 1857

  • c. 1860

Q. Income Tax Act was passed in the year_____________.

a. 1955

b. 1961

c. 1956

d. 1962

  • b. 1961

Q. CBDT is control by ______________.

a. central government

b. state government

c. both (a) and (b)

d. none of this above

  • a. central government

Q. previous year started from ______________.

a. april

b. march

c. january

d. september

  • a. april

Q. Who is Tax payer?

a. assessee

b. businessman

c. trust

d. govt. employee

  • a. assessee

Q. Income tax is a ........................

a. business tax

b. profession tax

c. direct tax

d. indirect tax

  • c. direct tax

Q. A person is said to be an ordinarily Resident when the person is satisfying ________________.

a. both basic and additional conditions

b. only basic conditions

c. only additional conditions

d. not basic and additional conditions

  • a. both basic and additional conditions

Q. A person is said to be a non resident when he is _______________.

a. not fulfilling any one of the basic conditions

b. fulfilling only basic conditions

c. fulfilling only additional conditions

d. fulfilling both basic and additional conditions

  • a. not fulfilling any one of the basic conditions

Q. Who is assessee in case of a HUF?

a. father

b. spouse

c. karta

d. deemed karta

  • c. karta
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