Income tax act mcq

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August undefined, 2024

Web42. The charging section of the Income-tax Act, 1961, states that the income earned in a year is taxable in the next year. This is known as _____ A. Principle of mutuality B. Previous year rule C. Financial year rule D. None of these. 43. Income-tax in India is charged at the rates prescribed by - A. The Finance Act of the assessment year B. 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. …

Income TAX I B Com Sem 5 - MCQ on taxation - Studocu

Web3. 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 … 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 tax act 1961 came in to force on A) 1st April 1960 B) … dogfish tackle \u0026 marine

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WebThe basic source of income-tax law is . (a) Income-tax Act, 1961 (b) Income-tax Rules, 1962 (c) Circulars/Notifications (d) Judgments of Courts (a) Also Q7. Income Tax Act came into force on . (a) 1.4.1961 (b) 1.4.1962 (c) 1.4.1956 (d) 1.4.1965 (a) Q8. Income Tax Act contains sections (a) XIV (b) 297 (c) XV (d) 298 Q23. Q9. WebMCQ Questions and Answers on Income Tax Act: Here learn most important objective questions and answers on income tax and test online. Set 1. Learn MCQ English. Set 2. … 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, … dog face on pajama bottoms

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Income Tax :- Introduction and Important Objective [MCQ] Question

http://www.jmpcollege.org/Adminpanel/AdminUpload/Studymaterial/TYBMS%20SEM%20V%20D%20TAX%20ATKT%20STUDY%20MATERIAL.pdf WebMar 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. dog face jackeWebS u b -I n co me Tax Cl ass-Ty Bco m. MCQ -100 To tal Marks- 100 1. The Income tax Act extends to a) W h o l e o f i n d i a b) Whole of India except Jammu & Kashamir c) Whole of … dog face mask skincare

"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. " - Income tax act mcq

Income tax act mcq

MCQs on THE INCOME TAX ACT 1961 Part - 1 - India Expert

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- Web4 rows · Mar 6, 2024 · Get Income Tax Multiple Choice Questions (MCQ Quiz) with answers and detailed solutions. ...

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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. 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 …

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 WebThe income tax rate for short term capital gains specified in Sec.111A is: A. 10%. B. 15%. C. 20%. D. 30%.

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 … 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:

WebFree download in PDF Income Tax General Knowledge Multiple Choice Questions(MCQs) and Answers. These Income Tax GK Quiz or General Awareness quiz objective questions …

WebMar 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 … dogezilla tokenomicsWebUnder 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 ... dog face kaomojiWebA) 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. doget sinja goricaWebIncome 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 dog face on pj'sWebQuestions. 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 … dog face emoji pngWebApr 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 … dog face makeupWebNov 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 … dog face jedi