Top 150+ Solved Income Tax MCQ Questions Answer
Q. Agriculture Income is __________.
a. taxable
b. not taxable
c. partly taxable
d. none of this above
Q. Section 10 0f Income Tax Act deals with _________.
a. deductions
b. exempted incomes
c. income from salary
d. casual incomes
Q. Income Tax Authorities are grouped into two main wings; Administrative and.................
a. judicial.
b. managerial.
c. executives.
d. clerical.
Q. The highest Administrative Authority for Income Tax in India is............
a. finance minister.
b. cbdt.
c. president of india.
d. director of income tax.
Q. What are the exemption limit in Hostel Expenditure Allowance?
a. rs.200pm
b. rs.300pm
c. rs.400pm
d. rs.500pm
Q. Rates of Income tax are fixed under .......................
a. an ordinance
b. the income tax act
c. the finance act
d. notification of cbdt
Q. The number allotted by income tax authorities to assessees for identification and which should bequoted in all documents and correspondence is.......................
a. i.d. no.
b. register no.
c. permanent account number (pan).
d. licence no.
Q. Deduction of tax at source made for incomes which can be calculated in advance is called.......
a. t.d.s.
b. p.a.s.
c. f.a.s.
d. m.a.s.
Q. Due date of filing of return by a non business assessee is...................
a. 30th june.
b. 31st august.
c. 31st july.
d. 30th november.
Q. In case of residential status of HUF ,firm and AOP if control and management are wholly outside Indiathey are deemed as..................
a. resident.
b. ordinarily resident.
c. non resident
d. none of these.
Q. An Indian company’s residential status is that it is always.....................
a. resident.
b. non resident.
c. ordinarily resident.
d. none of these.
Q. Salary paid by an Indian company to its employees working in one of its branches outside Indiais................................
a. salary accruing in indi
b. salary deemed to accrue in india.
c. salary accruing outside india.
d. none of these.
Q. Income received in India is taxable in the hands of...........................
a. resident only.
b. resident and ordinarily resident only.
c. non-resident only.
d. all assessees.
Q. Income accrued in India is taxable in the hands of............................
a. non-resident only.
b. resident and not ordinarily resident only.
c. all assesses.
d. resident and ordinarily resident only.