FREE Bachelor of Commerce: Income Tax Laws Questions and Answers

Question 1

What is the law's incidence section?

Accepted Answer

5

Answer

4

Answer

7

Answer

6

Question 2

Income that is directly received in India but accrues or arises outside of India is taxable in the following scenarios:

Accepted Answer

Both a and b

Answer

non-resident

Answer

resident and ordinarily resident only

Answer

resident but not ordinarily resident

Question 3

R Ltd. is an Indian business with its headquarters outside of the country. R Limited shall be:

Accepted Answer

resident in India

Answer

not ordinarily resident in India

Answer

nt and ordinarily residen

Answer

non-resident in India

Question 4

Government of the nation

Accepted Answer

tax

Answer

fine

Answer

penalty

Answer

none of the above

Question 5

Which of the following individuals falls under Section 2? (A)

Accepted Answer

All of the above

Answer

body of person

Answer

Individual

Answer

firm

Question 6

The HUF is considered to be an Indian resident if

Accepted Answer

The control and management of its affairs is

Answer

The control and management of its

Answer

The control and management of its

Answer

None of the above

Question 7

The Company's residential status might be described as

Accepted Answer

Resident and non resident

Answer

ordinary Resident

Answer

non ordinary resident

Answer

none of the above

Question 8

Gains in sort include

Accepted Answer

Perquisites

Answer

Allowance

Answer

both a and b

Answer

none of the above

Question 9

According to the Income Tax Act of 1961, which of the following heads is the head of income?

Accepted Answer

All of the above

Answer

House Property

Answer

capital gain

Answer

salary

Question 10

Unpaid wages would be taxed on a basis.

Accepted Answer

Due

Answer

receipts

Answer

both a & b

Answer

none of the above