Top 50+ Solved Income tax procedure pleading Book Keeping and Accountancy MCQ Questions Answer
Q. The Income Tax Act 1961 came into force with effect from……..
a. 1st april 1962
b. 1st april 1961
c. 31st march 1961
d. none of the above
Q. Income Tax is charged in…….
a. financial year
b. assessment year
c. previous year
d. accounting year
Q. CBDT is control by…….
a. central government
b. state government
c. both a and b
d. none of the above
Q. Interest u/s 234B is payable by an Assesse due to the following reason……….
a. defaults in furnishing return of income
b. defaults in payable of advanced tax
c. defaults in installment of advanced tax
d. defaults due to non-deduction tax at source
Q. In which of the following assessment procedure Assesse compute his taxable income as well as tax on it.......
a. best judgment assessment
b. reassessment
c. self-assessment
d. regular assessment
Q. Tax is _ _ _ _ _ _ _ _ at source by the seller from the buyer at the time of debiting the amount account of the buyer or the receipt of payment whichever is earlier.
a. deducted
b. deposited
c. payable
d. collected
Q. Amount of advance tax paid on due date on or before December 15th by assessee is
a. 75% of advance tax payable
b. 30% of advance tax payable
c. 10% of advance tax payable
d. 5% of advance tax payable
Q. If recipient of income fails to furnish his Permanent Account Number to deduct of tax the tax shall be deducted
a. at the rate specified in the relevant section
b. at the rate or rates in forces
c. at the rate of 20%
d. higher of the above rate
Q. The period of 12 months commencing on the first day of April every year and ending on 31st March is called as_ _ _ _ _
a. previous year
b. assessment year
c. accounting year
d. financial year
Q. The highest Administration Authority for Income Tax in India is_ _ _ _ _
a. finance minister
b. cbdt
c. president of india
d. director of income tax
Q. The number allotted by income tax authorities to assessees for identification and which should be quoted in all documents and correspondences is_ _ _ _ _ _
a. j.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 assesse is _ _ _ _
a. 30th june
b. 31st october
c. 31st july
d. 30th november