Income tax act mcq

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August undefined, 2024

WebIncome Tax MCQ Questions and Answers: Here learn quiz questions on Income Tax Act and download pdf 50 questions. Test Your Answer Click Option Button Page: 2/7 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 …

Income Tax MCQ Questions and Answers Pdf Download Online …

WebApr 3, 2024 · Income-tax Question 2 Detailed Solution. The correct answer is ₹25,000, ₹7,00,000. Key Points Rebate under section 87A: In order to provide tax relief to the … WebQuestions. Download PDF. 1 The period of 12 months commencing on the rt day of April every year is known as ____________ _. A Financial Year. B Assessment Year. C Previous … how to right a persuasive speech

Income Tax MCQ [Free PDF] - Objective Question Answer for Income Tax …

WebMar 1, 1971 · As per Income Tax Act, 1961, income tax is charged on the income of at a rates which are prescribed by the Finance Act of relevant assessment year. A. current year: B. one year before previous year: C. previous year: D. none of the above: Answer» C. … WebJan 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 … Web200A(1) can be rectified by the Income Tax Authorities under section 154. (a) True (b) False Correct answer : (a) Justification of correct answer : As per section 154, any mistake apparent from the record can be rectified by the Income Tax Authorities in following cases: a) Any order passed under any provisions of the Income-tax Act. northern california tv providers

Income Tax MCQ with Answers PDF - Studocu

MCQ on Income Tax Tax Rate & Basic Concept of Income Tax …

WebIncome Tax objective Questions and Answers pdf download, Here learn quiz questions on Income Tax Act and download pdf 50 questions and online test. WebApr 13, 2024 · Get Income-tax and Corporate Tax Planning Multiple Choice Questions (MCQ Quiz) with answers and detailed solutions. Download these Free Income-tax and Corporate Tax Planning MCQ Quiz Pdf and prepare for your upcoming exams Like Banking, SSC, Railway, UPSC, State PSC. ... Hence Section 80E of the Income Tax Act, of 1961 … northern california triathlonsWebFree download in PDF Income Tax General Knowledge Multiple Choice Questions(MCQs) and Answers. These Income Tax GK Quiz or General Awareness quiz objective questions … how to right a sentence

"WebUnder the Income-tax Act, 1961, 'notional profit' from speculative business is – Under the Income-tax Act, 1961, interest on capital received by a partner from a partnership firm is chargeable under the head An assessee was engaged in the business of dealing in commodities. He had paid Commodities transaction tax of Rs.15,000 in respect of ... " - Income tax act mcq

Income tax act mcq

Income Tax MCQs For UGC Net : 50 Free MCQ On Income Tax

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WebIncome 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 … WebMULTIPLE CHOICE QUESTIONS. Income Tax Act, 1961 came into force on: a. 1– 1 – 1961 b. 1– 4 – 1961 c. 1– 1 – 1962 d. 1– 4 – 1962. Income tax was levied in India first time in: a. 1960 b. 1860 c. 1921 d. 1961. The rate of income tax is fixed under: a. Income Tax Act b.

WebFeb 6, 2024 · 1. Income Tax Act was passed in the year………. A) 1934 B) 1956 C) 1961 D) 1972. 2. Income Tax Act came into force on………… A)1. st April 1935 B) 1. st April ... Web5. The Present Income Tax Act is known as: a. Income Tax Act,1922 b. Income Tax Act,1886 c. Income Tax Rule, 1962 d. Income Tax Act, 1961 6. The period of 12 months commencing on 1 st day of April every year is known as: a. The Previous Year b. The Accounting Year c. The Assessment Year d. The Financial Year 7. The definition of income is:

WebQuestion and answers in Income Tax Law and Practice, Income Tax Law and Practice multiple choice questions and answers, Income Tax Law and Practice Important MCQs, … WebThis post of MCQ is on provisions relating to clubbing provisions under Income Tax Act. Answer to MCQ 53.1: C) Income of wife will not be clubbed in the hands of Mr.X since Mr.X is not having substantial interest in the firm. Answer to MCQ 53.2: B) Shall not be Clubbed in the hands of husband since he transfers a loan without adequate ...

WebCA Final Direct Tax Laws –MCQ On Income Tax Rate &Basic Concept Of Income Tax D. 1st September, 2024 to 31st January, 2024 Income of business commenced on 1st March, 2024 will be assessed in assessment year- A. 2024- B. 2024- C. 2024- D. 2024-

WebAug 18, 2024 · The income received from transfer of Carbon Credit in the A.Y. 2024-20 shall be taxed as per section 115BBG of the Act and the amount of tax on such income payable shall be: (a) 7 5,82,400 (b) 7 5,56,400 northern california urologistWebMar 8, 2024 · Get Goods and Services Tax (GST) Multiple Choice Questions (MCQ Quiz) with answers and detailed solutions. ... Wealth Tax, according to the Wealth Tax Act, 1957, ... Income tax is a direct tax that is paid to the government on the income of persons or corporations that are expected to pay taxes. northern california time zoneWeb5. The Present Income Tax Act is known as: a. Income Tax Act,1922 b. Income Tax Act,1886 c. Income Tax Rule, 1962 d. Income Tax Act, 1961 6. The period of 12 months … northern california truck accident attorneyWeb3. Income Tax Act 4. Net tax liability 5. Rate of tax 6. Finance minister 7. Parliament 8. Determination of total income (a) Income tax act (b) 1st April 1961 (c) Approves finance … northern california trendwest resortsWebNov 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. northern california treatment facilityWebMar 4, 2024 · The rate of TDS applicable for Assessment Year 2024-21 on payment of rent by an individual in excess of Rs. 50,000 per month under Section 1941B of Income Tax Act 1961 w.e.f. 01.06.2024 is 5%. Key Points. Section 194IB of the Income Tax Act is a provision that is enacted to ensure that TDS or Tax Deducted at Source is withheld on rental … northern california usa dig alertWebA) Chargeable under the Wealth-tax Act, 1957 B) Not chargeable under the Income-tax C) Chargeable under section 17(3)(i) D) Chargeable under section 28(ii) (a). 169. DSK, an LLP had taken key man insurance policy on the life of its managing partner. northern california walking horse association