MCQs on Income Tax Act - 17

1. Contribution to RPF is deducted under section .................. 

A. Section 80C 
B. Section 80D 
C. Section 80E 
D. Section 80G



2. The maximum amount of deduction under section 80D in the case of a senior citizen is ...................

A. Rs: 10,000 
B. Rs: 15,000 
C. Rs: 20,000 
D. Rs: 25,000



3. Which among the following deduction is available only to disabled persons?  

A. Section 80 C 
B. Section 80 G 
C. Section 80 Q 
D. Section 80 U



4. Section 80C provides for deduction in respect of tuition fee to ....................... children. 

A. One 
B. Two 
C. Three 
D. None



5. When a loan is taken for the education of a child, the father is entitled to deduction under section .................. 

A. Section 80 C 
B. Section 80 G 
C. Section 80 E 
D. Section 80 U



6. Loss from business can be carried for ...................... years. 

A.
B.
C. 12 
D. 16



7. Income of Benami transactions shall be included in the income of ......................

A. Real owner 
B. Transferor 
C. transferee 
D. None of these



8. Dividend from an Indian company is ...................

A. Fully Taxablbe 
B. Fully Exempted 
C. Partly Taxable 
D. None of the above



9. The amount received from URPF is ....................

A. Taxablbe 
B. Exempted 
C. Exempted, subject to certain conditions 
D. None of the above



10. STCL can be set off in the same assessment year from .......................

A. STCG 
B. LTCG 
C. both 
D. Not possible



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