Top 150+ Solved Income Tax MCQ Questions Answer
Q. Agricultural income in Pakistan is assessable for........................
a. resident
b. not ordinarily resident
c. non-resident
d. not taxable
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
Q. Section.................. of the Income Tax Act deals with exempted incomes.
a. 2
b. 7
c. 10
d. 80
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
Q. __________ is / are empowered to levy and collect income tax.
a. state governments
b. central government
c. rbi
d. local self government department
Q. In which year Income Tax was levied in India for the first time ?
a. 1960
b. 1961
c. 1860
d. 1857
Q. CBDT is control by ______________.
a. central government
b. state government
c. both (a) and (b)
d. none of this above
Q. Income tax is a ........................
a. business tax
b. profession tax
c. direct tax
d. indirect 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
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