Income Tax and Corporate Tax MCQ Questions and Solutions with Explanations | Commerce

If assessee is a government servant or an employee in company, cooperative society or university etc, and entitled for relief under Section 89, then he may furnish to his employer such particular in form

The death-cum-retirement gratuity received by the government employee or of local authority is:

A tax return preparer can be an individual, other than
1. any officer of a scheduled bank with which the assessee maintains a current account or has other regular dealings.
2. any legal practitioner, who is entitled to practice in any Civil Court in India.
3. a Chartered Accountant.
4. an employee of the 'specified class or classes of persons'.
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Which Section of the Income Tax Act relates to claim deduction for premium paid for Health Insurance?

Which of the following donations is eligible for 100% deduction?

Income from house property owned by trade union is exempt under

An individual is considered as an owner of the house property for the purpose of charging tax to:

Which of the expenses on scientific research related to the business are allowed a deduction in the PY of commencement of the business, although incurred within 2 years immediately before the commencement of the business?
1. Any revenue expense on scientific research.
2. Payment of salary to employee engaged in scientific research.
3. Purchase of material used in scientific research.
4. Repair and maintenance expense on the asset acquired for scientific research.
5. Land acquired for scientific research.
6. Building constructed for scientific research.
7. Plant and machinery acquired for scientific research.
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Which of the following statements is/are correct?
1. An assessee may enjoy different residential status for different assessment year.
2. It is not necessary that a person, who is resident in India, cannot become resident in any other country for the same assessment year.
3. Where a person is in India only for a part of a day, it will be calculated as one complete day.
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If the asset is put to use for lessthan 180 days in the year in which it is acquired, the rate of depreciation will be