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This set of Income Tax Multiple Choice Questions & Answers (MCQs) focuses on Income Tax Set 9

Q1 | A partnership firm will be assessed as firm if there is .........................
  • an agreement
  • a written agreement
  • an oral agreement
  • none of the above.
Q2 | Partnership firms are governed by the provisions of the Indian Partnership Act of ...................
  • 1956
  • 1932
  • 1946
  • 1881
Q3 | A firm shall pay tax on long term capital gain @ .................................
  • 15%
  • 20%
  • 25%
  • 30%
Q4 | Section 89 of the Income tax Act deals with .............................
  • perquisites
  • arrears of salary income
  • allowances
  • profit in lieu of salary