Income Tax Law And Practices Set 4
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This set of Income Tax Law and Practices Multiple Choice Questions & Answers (MCQs) focuses on Income Tax Law And Practices Set 4
Q1 | Income received in India whether occurred in India or outside India, the tax incidence in case of non-resident is .
- Taxable as per slabs
- Exempted from slab
- Partly exempted
- None of the above
Q2 | Income deemed to be received in India whether occurred in India or outside India, the taxincidence in case of resident is .
- Taxable as per slabs
- Exempted from slab
- Partly exempted
- None of the above
Q3 | The income received and accrued outside India from a business controlled or profession setup in India, the tax incidence in case of resident is .
- Taxable
- Non-taxable
- Partly taxable
- None of the above
Q4 | The income received and accrued outside India from a business controlled or profession set up in India, the tax incidence in case of non-resident is .
- Taxable
- Non-taxable
- Partly taxable
- None of the above
Q5 | The tax incidence for company or firm in which income received in India and company is resident is .
- Taxable
- Non-taxable
- Partly taxable
- None of the above
Q6 | The tax incidence for company or firm in which income received in India and company fornon-resident is .
- Taxable
- Non-taxable
- Partly taxable
- None of the above
Q7 | The tax incidence for company or firm in which income received outside India from a source controlled from India for resident is .
- Taxable
- Non-taxable
- Partly taxable
- None of the above
Q8 | The tax incidence for company or firm in which income received outside India from a sourcecontrolled from India for non-resident is .
- Non-taxable
- Taxable
- Partly taxable
- None of the above
Q9 | __________ is exempted from income tax.
- Interest from Indian company
- Dividend from foreign company
- (a) Cooperative dividend
- (d) Dividend from Indian company
Q10 | Which section of the Income Tax Act exempted incomes have been mentioned?
- Section 80C
- Section 80DD
- Section 10
- Section 2
Q11 | _________ of Income Tax Act is related to residential status.
- Section 2
- Section
- Section 5
- Section 4
Q12 | Resident of India includes .
- Ordinarily resident
- Not ordinarily resident
- NRI
- Both (a) and (b)
Q13 | The Company may have the residential status as .
- Resident or Non-resident
- Not ordinarily resident
- Non-resident
- Resident
Q14 | The meaning of exempted income is .
- Not included in total income
- Agricultural income
- Not taxable under income tax
- All of the above
Q15 | The number of income source for a person are .
- One head
- Two heads
- Various heads
- Any of the above
Q16 | The sum of various heads is called as .
- Taxable income
- Total income
- Gross total income
- Adjusted income
Q17 | The agricultural income includes .
- Income from sale of crop
- Income from preparation of crop
- Income from nursery
- All of the above
Q18 | ____________ comes under agricultural income.
- Tea garden
- Commodity farming
- All of the above
- None of the above
Q19 | The Income Tax Act, 1961 broadly covers .
- Basic charging income
- Rebates and reliefs
- Incomes exempted from income tax
- All of the above
Q20 | The capital gain is chargeable under of Income Tax Act.
- Section 45
- Section 55
- Section 56
- Section 40
Q21 | The definition of the person includes .
- An individual
- A company
- A Hindu undivided family
- All of the above
Q22 | Any rent or revenue derived from land which is situated in India and is used for agricultural purpose is .
- Partially taxable
- Fully taxable
- (c) Exempted from tax
- (d)None of the above
Q23 | Residential Status of an assesses can be .
- Different for different previous year in the same assessment year
- Different for different assessment year
- None of the above
- All of the above
Q24 | The income of previous year is chargeable to tax in the .
- Immediately succeeding assessment year
- Same previous year
- Immediately preceding academic year
- None of the above
Q25 | The interest on loan paid by the Government of India to a non-resident outside India is _______________in India.
- Not taxable
- Partially taxable
- (c) Taxable
- (d)Can’t say