Taxes in India mcq questions and answers for competitive exams

Posted : 4 months ago
Taxes in India mcq questions and answers for competitive exams UPSC SSC , SSC CGL, SSC CHSL, upsc Civils , Entrance exams Online test practice online free Quiz, mock practice online
1.
Banking services offered to units set up in Special Economic Zones (SEZs) have been exempted for paying tax :

a
Income Tax
b
Service Tax
c
Capital Gains Tax
d
None of these

2.
Service tax was introduced in India on the recommendation of:

a
Kelkar Committee
b
Dr. Raja J Challiah Committee
c
Dr. Yashwant Sinha Committee
d
Dr. Man Mohan Singh Committee

3.
Under the head Business or Profession, the method of accounting which an assessee can follow shall be :

a
Cash system only
b
Mercantile system only
c
Hybrid system
d
Mercantile or cash system only

4.
Service tax is a charge on:

a
Taxable service provided
b
Taxable service to be provided
c
Any service provided or to be provided
d
Taxable service provided or to be provided

5.
Government imposes taxes to?

a
check the accumulation of wealth among the rich
b
run the machinery of state
c
uplift weaker sections
d
none of these

6.
Which of the following is a union tax?

a
Land revenues
b
Corporation tax
c
Capitation taxes
d
Taxes on agricultural income

7.
State which statement is True :

a
Service tax is always paid by the service provider
b
Service tax is to be Paid at the stage of rendering the service
c
Service tax is payable on the money which is received in advance
d
In case the payment of service tax is made by cheque, the date of payment is the date on which the cheque is encased by the bank

8.
Family pension received by a widow of a member of the armed forces where the death of the member has occurred in the course of the operational duties, is

a
Totally chargeable to tax
b
Exempt up to Rs.3,00,000
c
Exempt up to Rs. 3,50,000
d
Totally exempt under section 10(19)

9.
There will be no partial integration of agricultural income with non agricultural income, if the non agricultural income does not exceed:

a
Rs. 1,00,000
b
Rs. 1,30,000
c
Rs. 1,50,000
d
Rs. 1,80,000

10.
Additional surcharge (education cess) of 3 % per cent is payable on

a
Income tax
b
Income tax plus surcharge
c
Surcharge
d
None of these

11.
Where service is received from outside India, such service shall be:

a
exempt from service tax
b
taxable in the hands of service provider
c
taxable in the hands of Service recipient
d
none of these

12.
A local authority has earned income from the supply of commodities outside its own jurisdictional area. It is :

a
Taxable
b
Exempt
c
Partially Exempted
d
None of these

13.
Incomes which accrue or arise outside India but are received directly into India are taxable in case of

a
Resident only
b
Non-resident
c
Both ordinarily resident and NOR
d
All the assesses

14.
Salary, bonus, commission or remuneration due to or received by a working partner from the firm is taxable under the head.

a
PGBP
b
Income from salaries
c
Other sources
d
None of these

15.
Body of individual should consist of :

a
Persons other than individual only
b
Individual only
c
Both of the above
d
None of these

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Taxes in India mcq questions and answers for competitive exams

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