Previous Year Solved Question Papers

Previous Year Solved Question Papers

MCQs on Income Tax Act - 1

1. Income Tax Act came into force on ...................

A. 01.04.1961 
B. 01.04.1962 
C. 01.04.1956 
D. 01.04.1965


2. Residential status is determined for ....................

A. Previous year 
B. Assessment year 
C. Accounting year 
D. Financial year.


3. How many heads of income are there to compute Gross total income. 

A. Six
B. Five 
C. Four 
D. Three


4. Deduction of tax at source made for incomes which can be calculated in advance is called ......... 

A. T.D.S. 
B. P.A.S. 
C. F.A.S. 
D. M.A.S.



5. The number allotted by income tax authorities to assessees for identification and which should be quoted in all documents and correspondence is....................... 

A. I.D. No. 
B. Register No. 
C. Permanent Account Number (PAN). 
D. Licence No.



6. Due date of filing of return by a non business assessee is................... 

A. 30th June
B. 31st August
C. 30th November 
D. 31st July


7. Under the income- tax act, the incidence of taxation depends on ....................

A. The citizenship of the tax-payer. 
B. The age of the taxpayer 
C. The residential status of the tax-payer. 
D. The gender of the taxpayer


8. Income by way of rent of agricultural land is .............. 

A. Business income 
B. Income from other sources
C. Agricultural income 
D. Casual income


9. The highest Administrative Authority for Income Tax in India is............ 

A. Finance Minister
B. CBDT
C. President of India
D. Director of Income Tax.


10. Receipt of amount on maturity of LIC Policy is.......................

A. A revenue receipt
B. A capital receipt
C. A casual receipt
D. None of these.



More MCQs on Income Tax Act

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