Direct Tax

M

Mr. Dubey • 51.17K Points
Coach

Q 51. One who is liable to pay the income tax__________________

(A) Indian Citizen
(B) Resident in India
(C) Any Person
(D) An Assessee
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M

Mr. Dubey • 51.17K Points
Coach

Q 52. Whose income is chargeable to Income tax _______________

(A) Income of only Indian Citizen
(B) Income of only residents
(C) Income of all persons
(D) Income of only assesses
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M

Mr. Dubey • 51.17K Points
Coach

Q 53. Income earned during what period is taxed____________

(A) Assessment Year
(B) Previous Year
(C) Financial Year
(D) Calendar Year
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M

Mr. Dubey • 51.17K Points
Coach

Q 54. In which year is the income tax liability computed_______________

(A) Assessment Year
(B) Previous Year
(C) Financial Year
(D) Calendar Year
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M

Mr. Dubey • 51.17K Points
Coach

Q 55. Shivaji University is assessable under the Income Tax Act as _______________.

(A) An Individual
(B) An artificial Juridical Person
(C) A local Authority
(D) Person other than Individual
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M

Mr. Dubey • 51.17K Points
Coach

Q 56. A new business was set up on 15-11-2017 and it commences its business from 1-12-2017. The first previous year in this case shall be _______________________

(A) 15-11-2017 to 31-3-2018
(B) 1-12-2017 to 31-3-2018
(C) 2017-18
(D) 2019-20
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M

Mr. Dubey • 51.17K Points
Coach

Q 57. Body of individual should consist of ____________

(A) Individual only
(B) Persons other than individual only
(C) A local authority
(D) Income of all persons
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M

Mr. Dubey • 51.17K Points
Coach

Q 58. Out of the following which is a revenue receipt _______________-

(A) Premium received on issue of new shares.
(B) Annuity received from former employer
(C) Interest from investments
(D) New Shares
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M

Mr. Dubey • 51.17K Points
Coach

Q 59. Income tax Act extends to ____________

(A) Whole of India
(B) Whole of India except Jammu & Kashmir
(C) Whole of Maharashtra Only
(D) Madhya Pradesh
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