Taxes in India mcq questions and answers for competitive exams

a

An individual and HUF

b

A company assessee only

c

All assesses

d

None of these

a

Rs. 1,000 p.m.

b

Rs. 2,000 p.m.

c

Rs. 3,000 p.m.

d

Rs. 4,000 p.m.

a

Section 2(11)

b

Section 2(21)

c

Section 2(31)

d

Section 2(41)

a

An individual

b

Any assessee

c

An individual of HUF

d

An individual or HUF who is resident in India

a

Not ordinarily resident only

b

Resident only

c

both ordinarily resident and NOR

d

none of the above

a

Out of any income

b

Out of any income chargeable to income tax

c

During the current year out of any source

d

None of these

a

Rs. 10 lakhs

b

Rs. 20 lakhs

c

Rs. 30 lakhs

d

Rs. 40 lakhs

a

Direct Taxes

b

Indirect taxes

c

All of the above

d

None of these

a

Be entitled to deduction under sections 30 to 37

b

Not be entitled to any deduction under sections 30 to 37

c

Not be entitled to deduction under sections 30 to 37except for interest on capital or loan frompartner and remuneration to a working partner subject to conditions laid down under section 40(b)

d

None of these

a

Such person is an agent of that company

b

Such person is a director of that company

c

Such person is a major shareholder of that company

d

Such person is connected with the management or administration

a

CBEC

b

CBDT

c

Both of these

d

None of these

a

First stage of sale

b

Last stage of sale

c

Multi Stage

d

First and last stage of sale

a

Rs. 10lakhs

b

Rs. 20lakhs

c

Rs. 30lakhs

d

Rs. 40lakhs

a

Wealth tax

b

Interest tax

c

Corporation tax

d

Personal income tax

a

Wealth tax

b

Interest tax

c

Corporation tax

d

Personal income tax