Income Tax Law And Practices Set 1

Bachelor of Commerce (B Com),

Bachelor of Commerce in Banking and Insurance (B.Com Banking and Insurance)

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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 1

Q1 | The Income Tax Act, was enacted in:
Q2 | Mr. X has started his business from 2nd Sept,2019 and does not have any other source of Income, his first previous year will start from
Q3 | In Assessment year, the tax will be calculated at
Q4 | Assesee means a person from whome
Q5 | Agriculture income is exempt in India:
Q6 | Agricultural income from foreign is taxable
Q7 | Sale of land is a
Q8 | Sales of goods is a
Q9 | As the income goes up, the slab of income tax rate goes
Q10 | The financial year starts from
Q11 | Person includes
Q12 | Income tax is paid by every individual depending on his
Q13 | Income tax is a
Q14 | Income tax is collected by
Q15 | Assessee includes any person in respect of whom:
Q16 | The residential status of an Individual can be:
Q17 | Citizenship is the criteria of assessment
Q18 | An individual is said to be resident in India if he stays for_ days during theprevious year
Q19 | Income received or deemed to be received in India is taxable for
Q20 | Gifts received from relatives on the occasion of marriage would be
Q21 | Gifts received from others on the occasion other than marriage would be taxableif the aggregate amount exceeds
Q22 | As the income goes down, the slab of income tax rate goes
Q23 | The calendar year starts from
Q24 | Receipt of Income and remittance of income are different things
Q25 | Ordinary resident must stay in India for_ days during the previous year
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