Question 1

……………….of Income Tax Act is related to residential status.

Accepted Answer

A) section 2 
B) section 6 
C) section 5 
D) section 4 
A) section 2 
B) section 6 
C) section 5 
D) section 4 B

Question 2

The Income Tax Act, 1961 broadly covers .

Accepted Answer

A) basic charging income 
B) rebates and reliefs 
C) incomes exempted from income tax 
D) all of the above 
A) basic charging income 
B) rebates and reliefs 
C) incomes exempted from income tax 
D) all of the above D

Question 3

The Income Tax Act came into force all over India except .

Accepted Answer

A) andaman & nicobar 
B) maldives 
C) jammu & kashmir 
D) none of the above 
A) andaman & nicobar 
B) maldives 
C) jammu & kashmir 
D) none of the above D

Question 4

The interest on loan paid by the Government of India to a non-resident outside India is………..in India.

Accepted Answer

A) not taxable 
B) partially taxable 
C) taxable 
D) can't say 
A) not taxable 
B) partially taxable 
C) taxable 
D) can't say

Question 5

The period of 12 months commencing on the first day of April every year and ending on 31st March is called as .

Accepted Answer

A) previous year 
B) assessment year 
C) accounting year 
D) financial year 
A) previous year 
B) assessment year 
C) accounting year 
D) financial year

Question 6

The income received and accrued outside India from a business controlled or profession set up in India, the tax incidence in case of resident is .

Accepted Answer

A) taxable 
B) non-taxable 
C) partly taxable 
D) none of the above 
A) taxable 
B) non-taxable 
C) partly taxable 
D) none of the above

Question 7

The tax incidence for company or firm in which income received in India and company is resident is .

Accepted Answer

A) taxable 
B) non-taxable 
C) partly taxable 
D) none of the above 
A) taxable 
B) non-taxable 
C) partly taxable 
D) none of the above

Question 8

The Income Tax Act came into force from .

Accepted Answer

A) 1st march 1971 
B) 1st april 1971 
C) 1st march 1961 
D) 1st april 1961 
A) 1st march 1971 
B) 1st april 1971 
C) 1st march 1961 
D) 1st april 1961

Question 9

Income received in India whether occurred in India or outside India, the tax incidence in case of non-resident is .

Accepted Answer

A) taxable as per slabs 
B) exempted from slab 
C) partly exempted 
D) none of the above 
A) taxable as per slabs 
B) exempted from slab 
C) partly exempted 
D) none of the above

Question 10

The income of previous year is chargeable to tax in the .

Accepted Answer

A) immediately succeeding assessment year 
B) same previous year 
C) immediately preceding academic year 
D) none of the above 
A) immediately succeeding assessment year 
B) same previous year 
C) immediately preceding academic year 
D) none of the above

Question 11

Income received in India whether occurred in India or outside India, the tax incidence in case of resident is .

Accepted Answer

A) taxable as per slabs 
B) exempted from tax 
C) partly exempted 
D) none of the above 
A) taxable as per slabs 
B) exempted from tax 
C) partly exempted 
D) none of the above

Question 12

If the agricultural income is ……….. then the agricultural income is considered for calculating tax.

Accepted Answer

A) more than ` 5,000 and total income is exceeding exemption limit 
B) more than ` 5,000 
C) more than ` 10,000 
D) any amount 
A) more than ` 5,000 and total income is exceeding exemption limit 
B) more than ` 5,000 
C) more than ` 10,000 
D) any amount

Question 13

Which section of the Income Tax Act exempted incomes have been mentioned?

Accepted Answer

A) section 80c 
B) section 80dd 
C) section 10 
D) section 2 
A) section 80c 
B) section 80dd 
C) section 10 
D) section 2

Question 14

The awards and rewards are exempted from Income Tax if .

Accepted Answer

A) payment is in cash 
B) payment is in kind 
C) payment is in cash or in kind 
D) none of the above 
A) payment is in cash 
B) payment is in kind 
C) payment is in cash or in kind 
D) none of the above

Question 15

The income from foreign companies by providing the services in project connected with security of India is from tax liability.

Accepted Answer

A) 50% exempted 
B) 20% exempted 
C) 100% exempted 
D) 55% exempted 
A) 50% exempted 
B) 20% exempted 
C) 100% exempted 
D) 55% exempted

Question 16

……………is the casual income.

Accepted Answer

A) interest received 
B) dividend income 
C) pension received 
D) winning from lotteries 
A) interest received 
B) dividend income 
C) pension received 
D) winning from lotteries

Question 17

The agricultural income includes .

Accepted Answer

A) income from sale of crop 
B) income from preparation of crop 
C) income from nursery 
D) all of the above 
A) income from sale of crop 
B) income from preparation of crop 
C) income from nursery 
D) all of the above

Question 18

Any rent or revenue derived from land which is situated in India and is used for agricultural purpose is .

Accepted Answer

A) partially taxable 
B) fully taxable 
C) exempted from tax 
D) none of the above 
A) partially taxable 
B) fully taxable 
C) exempted from tax 
D) none of the above

Question 19

The tax incidence for company or firm in which income received in India and company for non-resident is .

Accepted Answer

A) taxable 
B) non-taxable 
C) partly taxable 
D) none of the above 
A) taxable 
B) non-taxable 
C) partly taxable 
D) none of the above

Question 20

As per Income Tax Act, 1961, income tax is charged on the income ofat a rates which are prescribed by the Finance Act of relevant assessmentyear.

Accepted Answer

A) current year 
B) one year before previous year 
C) previous year 
D) none of the above 
A) current year 
B) one year before previous year 
C) previous year 
D) none of the above

……………….of Income Tax Act is related to residential status.

The Income Tax Act, 1961 broadly covers .

The Income Tax Act came into force all over India except .

The interest on loan paid by the Government of India to a non-resident outside India is………..in India.

The period of 12 months commencing on the first day of April every year and ending on 31st March is called as .

The income received and accrued outside India from a business controlled or profession set up in India, the tax incidence in case of resident is .

The tax incidence for company or firm in which income received in India and company is resident is .

The Income Tax Act came into force from .

Income received in India whether occurred in India or outside India, the tax incidence in case of non-resident is .

The income of previous year is chargeable to tax in the .

Income received in India whether occurred in India or outside India, the tax incidence in case of resident is .

If the agricultural income is ……….. then the agricultural income is considered for calculating tax.

Which section of the Income Tax Act exempted incomes have been mentioned?

The awards and rewards are exempted from Income Tax if .

The income from foreign companies by providing the services in project connected with security of India is from tax liability.

……………is the casual income.

The agricultural income includes .

Any rent or revenue derived from land which is situated in India and is used for agricultural purpose is .

The tax incidence for company or firm in which income received in India and company for non-resident is .

As per Income Tax Act, 1961, income tax is charged on the income ofat a rates which are prescribed by the Finance Act of relevant assessmentyear.

Income From Salary

Income From House Property

Capital Gain

Assessment of Various Entities

Miscellaneous and Computation of Total Taxable Income of an Individual

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Exam 1: Income Tax Act 1961

……………….of Income Tax Act is related to residential status.

The Income Tax Act, 1961 broadly covers .

The Income Tax Act came into force all over India except .

The interest on loan paid by the Government of India to a non-resident outside India is………..in India.

The period of 12 months commencing on the first day of April every year and ending on 31st March is called as .

The income received and accrued outside India from a business controlled or profession set up in India, the tax incidence in case of resident is .

The tax incidence for company or firm in which income received in India and company is resident is .

The Income Tax Act came into force from .

Income received in India whether occurred in India or outside India, the tax incidence in case of non-resident is .

The income of previous year is chargeable to tax in the .

Income received in India whether occurred in India or outside India, the tax incidence in case of resident is .

If the agricultural income is ……….. then the agricultural income is considered for calculating tax.

Which section of the Income Tax Act exempted incomes have been mentioned?

The awards and rewards are exempted from Income Tax if .

The income from foreign companies by providing the services in project connected with security of India is from tax liability.

……………is the casual income.

The agricultural income includes .

Any rent or revenue derived from land which is situated in India and is used for agricultural purpose is .

The tax incidence for company or firm in which income received in India and company for non-resident is .

As per Income Tax Act, 1961, income tax is charged on the income ofat a rates which are prescribed by the Finance Act of relevant assessmentyear.

Income From Salary

Income From House Property

Capital Gain

Assessment of Various Entities

Miscellaneous and Computation of Total Taxable Income of an Individual

Filters