41. Rent from House Property let out by an assessee to his employees when such letting is incidental to his main business will be chargeable to tax under head:
42. Two enterprises shall be deemed to be associated enterprises if, at any time during the previous year, one enterprise holds shares carrying not less than of the voting power in the other enterprise.
43. Which of the following incomes is not deemed to accrue or arise in India under Section 9(1)(i) of the Income Tax Act, 1961?
44. Mr A earned a capital gain of Rs. 100 lakh on 31st February, 2019 from the sale of a long-term capital asset (land) within the limits of Jaipur corporation. If he invests Rs. 60 lakh, out of Rs. 100 lakh, in Rural electricity corporation bonds approved under Section 54EC in 20th February, 2019, what is the amount of exemption he can claim under Section 54EC of Income Tax Act for the AY 2019-20?
45. On which value assessee has to pay income tax on building or land appurtenant?
46. No tax shall be deducted where the amount of winning from each lottery, crossword puzzle, card game etc does not exceed
47. Maximum amount of deduction in case of a person with severe disability under section 80U will be
48. Match the following.
List-I
List-II
a. Self assessment
1. Section 143(3)
b. Scrutiny assessment
2. Section 147
c. Best judgement assessment
3. Section 144
d. Income escaping assessment
4. Section 140A
| List-I | List-II |
| a. Self assessment | 1. Section 143(3) |
| b. Scrutiny assessment | 2. Section 147 |
| c. Best judgement assessment | 3. Section 144 |
| d. Income escaping assessment | 4. Section 140A |
49. Better way of reducing tax liability is
50. Rent from vacant plot of land is assessable under the head
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 8
- Income Tax and Corporate Tax - Section 9