11. Tax is computed on agricultural income, when
12. Who can be an 'Not ordinary resident' in India?
13. Deduction u/s 37(1) is allowed under tax laws for those expenditures which are:
14. What is the difference between tax avoidance and evasion?
15. Identify the correct statement/s.
1. Legal provisions are not followed in tax-planning.
2. The advantage due to loopholes of tax laws are taking in tax avoidance.
3. Tax evasion is punishable crime.
1. Legal provisions are not followed in tax-planning.
2. The advantage due to loopholes of tax laws are taking in tax avoidance.
3. Tax evasion is punishable crime.
16. The provisions relating to limitation of interest deduction in respect of debt issued by a non-resident associated enterprises are not applicable to an Indian company engaged in the business of
17. Which of the following statements are correct?
1. Charity received from customers is not business income
2. In connection with the statutory income tax preceding, expenses upto Rs. 20,000 are admissible
3. Expenses incurred for issuing share are deductible
Select the correct answer using the options given below
1. Charity received from customers is not business income
2. In connection with the statutory income tax preceding, expenses upto Rs. 20,000 are admissible
3. Expenses incurred for issuing share are deductible
Select the correct answer using the options given below
18. Match List-I with List-II in context of Income Tax.
List-I (Sections)
List-II (Deductions)
a. Section 80C
1. Pension Contribution
b. Section 80CCC
2. Deductions on Investments
c. Section 80CCD
3. Insurance Premium
d. Section 80TTA
4. Interest on Savings Account
e. Section 80GG
5. House Rent Paid
| List-I (Sections) | List-II (Deductions) |
| a. Section 80C | 1. Pension Contribution |
| b. Section 80CCC | 2. Deductions on Investments |
| c. Section 80CCD | 3. Insurance Premium |
| d. Section 80TTA | 4. Interest on Savings Account |
| e. Section 80GG | 5. House Rent Paid |
19. The income of a minor shall be added to the taxable income of his guardian, if the income-
20. Rate of interest on advance tax, if it is paid less than 90%
Read More Section(Income Tax and Corporate Tax)
Each Section contains maximum 100 MCQs question on Income Tax and Corporate Tax. To get more questions visit other sections.
- Income Tax and Corporate Tax - Section 1
- Income Tax and Corporate Tax - Section 2
- Income Tax and Corporate Tax - Section 3
- Income Tax and Corporate Tax - Section 4
- Income Tax and Corporate Tax - Section 5
- Income Tax and Corporate Tax - Section 6
- Income Tax and Corporate Tax - Section 7
- Income Tax and Corporate Tax - Section 9