Income tax act mcqs

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August undefined, 2024

WebIncome Tax General Knowledge Multiple Choice Questions(MCQs) and Answers. These Income Tax GK Quiz or General Awareness quiz objective questions answers are very … WebNov 12, 2024 · Income Tax MCQs for UGC Net : Get access to the latest 50 Free MCQ'S on Income Tax prepared with NTA-UGC-NET Exams course curated by ugcnetpaper1. ...

Scope of Total Income (Section 5) – Notes, MCQs, Videos

WebThe term Assessment Year is defined under Section 2 (9) of Income Tax Act, 1961. Assessment Year means the period of 12 months commencing on the 1 st day of April every year (means 1 st April to 31 st March). It means every financial year is an assessment year. Assessment Year is a relative term. WebThe following shall be regarded as capital asset: A. gold jewellery held by jeweller as sit trade. B. securities held by fii as per sebi act, 1992, held as stock in trade. C. motor car held by motor car manufacturer as sit. D. none of above. chipmunk homes

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WebNov 10, 2024 · Income Tax Law and Practice MCQ for those who are preparing the income tax exam .Here I have given Income Tax MCQ with Answers Pdf 2024 also. ... Income tax … WebNov 11, 2024 · Basic Concepts of Income Tax MCQ. MCQs on other topics of Taxation; Cost Accounting MCQs pdf ; 1. Income tax extends to ……………….. of India. WebMar 1, 1971 · The income from foreign companies by providing the services in project connected with security of India is from tax liability. A. 50% exempted. B. 20% exempted. … chipmunk home damage

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TAX TREATMENT OF CASH CREDITS

WebTaxation MCQs. Q. A tax that takes a larger percentage from high-income earners than it does from low-income earners is called. (A) proportional tax. (B) progressive tax. (C) … WebIncome Tax Act contains sections (a) XIV (b) 297 (c) XV (d) 298 Q23. Q9. Income Tax Act contains schedules. (a) XIV (b) 297 (c) XV (d) 298 Q15. Part 3 of schedule I of The … grants for sewing machinesWebMar 6, 2024 · Get Income Tax Multiple Choice Questions (MCQ Quiz) with answers and detailed solutions. Download these Free Income Tax MCQ Quiz Pdf and prepare for your … chipmunk holiday song

"WebSep 9, 2024 · 3. Under Section 2(1) of the Sales Tax Act, 1990 by which law Appellate Tribunal Inland Revenue be established? A. S.130 of the Income Tax Ordinance 2001 B. S.140 of the Income Tax Ordinance 2001 C. S.145 of the Income Tax Ordinance 2001 D. S.150 of the Income Tax Ordinance 2001 " - Income tax act mcqs

Income tax act mcqs

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WebOct 20, 2024 · Question. The main function of Accounting standards Board is. i) To identify areas in which uniformity in standards is requested. ii) Develop draft standards after wide discussion with representative, the public sector undertakings etc. a) Option (i) is the correct Statement. b) Option (ii) is the correct Statement. WebAs per Section 115BBE, income tax shall be calculated at 60% where the total income of assessee includes following income: a) Income referred to in Section 68, Section 69, Section 69A, Section 69B, Section 69C ... [As amended by Finance Act, 2024] MCQ ON TAX TREATMENT OF CASH CREDITS Q1. Any sum found credited in the books of the taxpayer, …

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WebMar 1, 1971 · Business Taxation Solved MCQs Chapters INCOME TAX ACT 1961 INCOME FROM SALARY INCOME FROM HOUSE PROPERTY CAPITAL GAIN ASSESSMENT OF VARIOUS ENTITIES ... The Income Tax Act came into force from . A. 1st march 1971: B. 1st april 1971: C. 1st march 1961: D. 1st april 1961: Answer» D. 1st april 1961 WebThe Annual Value has been defined under of Income Tax Act, 1961. A. section 20: B. section 22: C. section 23(1) D. section 23: Answer» C. section 23(1) discuss 2. ... , INCOME FROM HOUSE PROPERTY Multiple choice questions and answers, INCOME FROM HOUSE PROPERTY Important MCQs ...

WebJan 31, 2024 · 8. 25+ Income Tax Deductions MCQs (80C to 80 U), Income Tax MCQs 2024 – 23 [Free PDF] 12. List out partly exempted allowance. 13. Salary paid by an employer out of capital will be: a) A revenue receipt in the hands of employee. b) A capital receipt in the hands of employee. c) A casual receipt. d) None of the above. WebB COM SEMESTER 6- MCQ INCOME TAX - II. 1. The charging section of the income under the head capital gains is : A. Section 15 B. Section 17. C. Section 10 D. Section 45 (2) 2. What are the conditions to be fulfilled for charging of income under the head capital gains: A. There must be a capital asset. ... Under the Income-tax Act, ...

WebCA Final Direct Tax Laws –MCQ On Income Tax Rate &Basic Concept Of Income Tax. MULTIPLE CHOICE QUESTIONS BASICS OF INCOME TAX LAW. The Central Government … WebMar 6, 2024 · Get Income Tax Multiple Choice Questions (MCQ Quiz) with answers and detailed solutions. Download these Free Income Tax MCQ Quiz Pdf and prepare for your upcoming exams Like Banking, SSC, Railway, UPSC, State PSC. ... The Income Tax Act of 1961's Section 80EEB focuses on the interest payments made on loans taken out to …

WebApr 3, 2024 · The correct answer is ₹25,000, ₹7,00,000 Key Points Rebate under section 87A: In order to provide tax relief to the individual taxpayers who opt for a new regime, section 87A provides a rebate from the tax payable by an assessee, being an individual resident in …

WebNov 23, 2024 · The first income tax act was introduced in the year – 1860 60. The apex body of Income Tax Department. Is – CBDT 61. The Income Tax Act 1961 came into force on - 13th Sept 1961 62. The rates of income tax are specified in - Finance Act 63. The CBDT consists of- One Chairman & Six Members 5. MULTIPLE CHOICE QUESTIONS Subject- … grants for short peopleWebIncome Tax MCQ with Answers PDF Guru Gobind Singh Indraprastha University income tax mcq with answers pdf basic concept (bold text answers) income tax is direct. ... Income tax act 1961 came in to force on A) 1st April 1960 B) … grants for shower installationWebJan 31, 2024 · 24) The income tax was introduced in Indian for the first time in 1860 by British rulers. 25) Section 10 (10) of the Income-tax Act relates to Gratuity. 26) Advance … chipmunk homestayWebThe term Assessment Year is defined under Section 2 (9) of Income Tax Act, 1961. Assessment Year means the period of 12 months commencing on the 1 st day of April … chipmunk hotelsWebFeb 10, 2024 · 149.Under the Income Tax Act,1961, depreciation on machinery is charged on A) Purchase price of the machinery B) Written down value of the machinery C) Market price of the machinery D) All of the above grants for short films and documentaries chipmunk homes undergroundWebSolved MCQs for Income Tax Law and Practice, With PDF download and FREE Mock test ... Under Income Tax Act, which of the following entities comes under the term “Person”: A. … chipmunk home