Top 50+ Solved Taxation MCQ Questions Answer
Q. The Constitution of india empowers ____________________________________ to levy tax on income
a. state government
b. central government
c. parliament
d. finance minister
Q. The income tax act extends to __________________________________________ of india
a. states
b. union territories
c. citizens
d. whole
Q. Residential Status of an individual depends on the stay of assesses in india during the
a. calender year
b. accounting year
c. asseseement year
d. previous year
Q. A person by whom any tax is payable under income tax act 1961 is called as
a. individual
b. tax receiver
c. assessee
d. none of the above
Q. The Financial year in which the income is earned is called as the
a. assessment year
b. present year
c. previous year
d. current year
Q. Income tax act extends to
a. whole of india
b. whole of india except jammu & kashmir
c. india & sri lanka
d. none of these
Q. Shivaji University is assessable under the income tax act as
a. a individual
b. an artificial juridical person
c. a local authority
d. none of these
Q. A firm is regarded as a unit of assessment as per ______________________________
a. income tax act
b. partnership act
c. companies act
d. finance act
Q. ____________________________ is chargeable u/s 45
a. capital gains
b. profit and gains
c. dividend
d. voluntary contribution
Q. Incomes which accrue or arise outside India but received directly in India are taxable in case of
a. resident and ordinarily resident only
b. resident but not ordinarily resident
c. non-resident
d. All of the above
Q. R Ltd. Is an Indian company whose place of effective management is outside India. R Ltd., shall be:
a. resident in India
b. non-resident in India
c. not ordinarily resident in India
d. resident and ordinarily resident only
Q. which of the following are the persons under sec2(A)
a. Individual
b. firm
c. body of person
d. All of the above