Income Tax Set 6

Bachelor of Business Administration in Finance (BBA Finance),

Staff Selection Commission (SSC)

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This set of Income Tax Multiple Choice Questions & Answers (MCQs) focuses on Income Tax Set 6

Q1 | Medical reimbursement is exempt up to .................. if treatment is done in a private hospital.
Q2 | Excise duty and sales tax are allowed as deduction if paid before......................
Q3 | Technical know-how acquired after 1.4.98 is eligible for depreciation at...............
Q4 | Which of the following is exempted.
Q5 | Free food provided to employees is exempted upto ...................... per meal.
Q6 | The income from the sale of house hold furniture is ......................
Q7 | Deduction for other expenses except interest in the computation of income from house property isallowable to the extent of .........................
Q8 | Preliminary expenses shall be allowed as deduction in...............
Q9 | Bad debts allowed earlier and recovered latter on is....................
Q10 | Under valuation of opening stock is....................
Q11 | Under section 44AB the audit of accounts is compulsory if total sales exceed ..........................
Q12 | Gifts from clients are...................
Q13 | Repairs incurred before installation of an assets is..................
Q14 | If a depreciable asset is acquired and used for less than 180 days in a financial year, depreciationallowed on it is..............
Q15 | Rate of depreciation on residential building is.................
Q16 | The Total income of an individual is Rs: 3,46,994. The rounded off total income will be........................
Q17 | The income tax payable by an individual is Rs:8,562.55. The rounded off tax payable will be.........................
Q18 | The maximum tax exemption to a senior citizen for the assessment year is ......................
Q19 | If STT is paid, then STCG tax on the transfer of capital asset is ..............................
Q20 | Education cess for the A.Y is ................................
Q21 | According to section ........................ , TDS shall be payable during the financial year in respect of thetotal income of the assessee.
Q22 | .................. must be paid according to the provisions of “ Pay As You Earn” Scheme.
Q23 | Advance tax is payable when tax payable by an assessee is ........................or more.
Q24 | The rate of surcharge payable on tax for the A.Y. 2013-14 is ......................
Q25 | The non-taxable income for the woman assessee is .................................
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