MCQs on Income Tax Act - 11

1. A person is said to be a non resident when he is ................. 

A. not fulfilling any one of the basic conditions 
B. fulfilling only basic conditions 
C. fulfilling only additional conditions 
D. fulfilling both basic and additional conditions


2. Unabsorbed depreciation can be carried forward for set off....................... 

A. for a period of four years only. 
B. for a period of eight years only. 
C. for an unlimited number of years. 
D. for a period of eighteen years only.


3. The following is not taxable as income under the head "Salaries". 

A. Commission received by a full time director 
B. Remuneration received by a partner 
C. Allowances received by an employee 
D. Free accommodation given to an employee 



4. Salary received by a partner from the firm in which he is a partner is taxable under the head................ 

A. Income from salary 
B. Capital gains 
C. Profits and gains of business or profession 
D. Income from other sources



5. Family pension received by the widow of a deceased employee is taxable under the head............ 

A. Income from salary 
B. Capital gains 
C. Profits and gains of business or profession 
D. Income from other sources



6. 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.



7. Which of the following is not a capital expense? 

A. Installation expenditure of plant of a company. 
B. Legal expenses for reduction of capital. 
C. Commission to employees to achieve sales Targets. 
D. Expenses of promoting a company.



8. An individual who wants to be resident of India must satisfy at least................... 

A. One of the Two basic conditions. 
B. Both the basic conditions. 
C. Both the additional conditions. 
D. Both the basic conditions and the additional conditions



9. An individual who wants to be resident of India must stay in India for at least................ 

A. 730 days in 10 previous years. 
B. 182 days in the previous year. 
C. 365 days in the previous year. 
D. 150 days in the previous year.


10. In case of residential status of HUF ,firm and AOP if control and management are wholly outside India they are deemed as.................. 

A. Resident. 
B. Ordinarily Resident. 
C. Non resident 
D. None of these. 




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