Question 1

Residential has nothing to do with

Accepted Answer

A) constitution 
B) citizenship 
C) censorship 
D) change 
A) constitution 
B) citizenship 
C) censorship 
D) change B

Question 2

The income tax act extends to __________________________________________ of india

Accepted Answer

A) states 
B) union territories 
C) citizens 
D) whole 
A) states 
B) union territories 
C) citizens 
D) whole D

Question 3

Advance salary would be taxable basis

Accepted Answer

A) Due 
B) receipts 
C) both a & b 
D) none of the above 
A) Due 
B) receipts 
C) both a & b 
D) none of the above B

Question 4

Outstanding salary would be taxable basis

Accepted Answer

A) Due 
B) receipts 
C) both a & b 
D) none of the above 
A) Due 
B) receipts 
C) both a & b 
D) none of the above

Question 5

which of the following are the persons under sec2(A)

Accepted Answer

A) Individual 
B) firm 
C) body of person 
D) All of the above 
A) Individual 
B) firm 
C) body of person 
D) All of the above

Question 6

A is a non-cash benefit granted by an employer to the employee

Accepted Answer

A) Allowance 
B) Perquisites 
C) pension 
D) none of the above 
A) Allowance 
B) Perquisites 
C) pension 
D) none of the above

Question 7

What is the section of Incidence of law

Accepted Answer

A) 6 
B) 5 
C) 7 
D) 4 
A) 6 
B) 5 
C) 7 
D) 4

Question 8

The Financial year in which the income is earned is called as the

Accepted Answer

A) assessment year 
B) present year 
C) previous year 
D) current year 
A) assessment year 
B) present year 
C) previous year 
D) current year

Question 9

R Ltd. Is an Indian company whose place of effective management is outside India. R Ltd., shall be:

Accepted Answer

A) resident in India 
B) non-resident in India 
C) not ordinarily resident in India 
D) resident and ordinarily resident only 
A) resident in India 
B) non-resident in India 
C) not ordinarily resident in India 
D) resident and ordinarily resident only

Question 10

A person by whom any tax is payable under income tax act 1961 is called as

Accepted Answer

A) individual 
B) tax receiver 
C) assessee 
D) none of the above 
A) individual 
B) tax receiver 
C) assessee 
D) none of the above

Question 11

Residential Status of an individual depends on the stay of assesses in india during the

Accepted Answer

A) calender year 
B) accounting year 
C) asseseement year 
D) previous year 
A) calender year 
B) accounting year 
C) asseseement year 
D) previous year

Question 12

A firm is regarded as a unit of assessment as per ______________________________

Accepted Answer

A) income tax act 
B) partnership act 
C) companies act 
D) finance act 
A) income tax act 
B) partnership act 
C) companies act 
D) finance act

Question 13

The HUF is said to be resident in India if

Accepted Answer

A) The control and management of its affairs is wholly or partly situated in India 
B) The control and management of its affairs is partially situated out of India 
C) The control and management of its affairs is wholly or partly in out of India 
D) None of the above 
A) The control and management of its affairs is wholly or partly situated in India 
B) The control and management of its affairs is partially situated out of India 
C) The control and management of its affairs is wholly or partly in out of India 
D) None of the above

Question 14

Allowances to Judges of High Court/Supreme Court (Subject to certain conditions)

Accepted Answer

A) Taxable 
B) Not taxable 
C) Both A & B 
D) none of the above 
A) Taxable 
B) Not taxable 
C) Both A & B 
D) none of the above

Question 15

____________________________ is chargeable u/s 45

Accepted Answer

A) capital gains 
B) profit and gains 
C) dividend 
D) voluntary contribution 
A) capital gains 
B) profit and gains 
C) dividend 
D) voluntary contribution

Question 16

Benefits Given in kind are

Accepted Answer

A) Allowance 
B) Perquisites 
C) both a and b 
D) none of the above 
A) Allowance 
B) Perquisites 
C) both a and b 
D) none of the above

Question 17

which of the following heads are the head of Income under Income tax Act 1961

Accepted Answer

A) salary 
B) capital gain 
C) House Property 
D) All of the above 
A) salary 
B) capital gain 
C) House Property 
D) All of the above

Question 18

is a retirement benefit given by the employer to the employee in consideration of past services.

Accepted Answer

A) Gratuity 
B) Dearness allowance 
C) Lunch allowance 
D) House Rent allowance 
A) Gratuity 
B) Dearness allowance 
C) Lunch allowance 
D) House Rent allowance

Question 19

The Constitution of india empowers ____________________________________ to levy tax on income

Accepted Answer

A) state government 
B) central government 
C) parliament 
D) finance minister 
A) state government 
B) central government 
C) parliament 
D) finance minister

Question 20

An Company is always resident in india

Accepted Answer

A) industrial 
B) individual 
C) indian 
D) investment 
A) industrial 
B) individual 
C) indian 
D) investment

Residential has nothing to do with

The income tax act extends to __________________________________________ of india

Advance salary would be taxable basis

Outstanding salary would be taxable basis

which of the following are the persons under sec2(A)

A is a non-cash benefit granted by an employer to the employee

What is the section of Incidence of law

The Financial year in which the income is earned is called as the

R Ltd. Is an Indian company whose place of effective management is outside India. R Ltd., shall be:

A person by whom any tax is payable under income tax act 1961 is called as

Residential Status of an individual depends on the stay of assesses in india during the

A firm is regarded as a unit of assessment as per ______________________________

The HUF is said to be resident in India if

Allowances to Judges of High Court/Supreme Court (Subject to certain conditions)

____________________________ is chargeable u/s 45

Benefits Given in kind are

which of the following heads are the head of Income under Income tax Act 1961

is a retirement benefit given by the employer to the employee in consideration of past services.

The Constitution of india empowers ____________________________________ to levy tax on income

An Company is always resident in india

Taxation and Allowances

Filters

Exam 1: Income Tax Laws in India

Residential has nothing to do with

The income tax act extends to __________________________________________ of india

Advance salary would be taxable basis

Outstanding salary would be taxable basis

which of the following are the persons under sec2(A)

A is a non-cash benefit granted by an employer to the employee

What is the section of Incidence of law

The Financial year in which the income is earned is called as the

R Ltd. Is an Indian company whose place of effective management is outside India. R Ltd., shall be:

A person by whom any tax is payable under income tax act 1961 is called as

Residential Status of an individual depends on the stay of assesses in india during the

A firm is regarded as a unit of assessment as per ______________________________

The HUF is said to be resident in India if

Allowances to Judges of High Court/Supreme Court (Subject to certain conditions)

____________________________ is chargeable u/s 45

Benefits Given in kind are

which of the following heads are the head of Income under Income tax Act 1961

is a retirement benefit given by the employer to the employee in consideration of past services.

The Constitution of india empowers ____________________________________ to levy tax on income

An Company is always resident in india

Taxation and Allowances

Filters