71. Match the items of List-I with the items of List-II and choose the correct answer:
List-I
List-II
a. Compensation received by an employee from his employer on termination of job
1. Exemption up to specified limit
b. Pension received by the widow of an employee
2. Profits in lieu of salary
c. Foreign allowance for rendering services abroad
3. Income from other sources
d. Children hostel allowance
4. Fully exempt from tax
| List-I | List-II |
| a. Compensation received by an employee from his employer on termination of job | 1. Exemption up to specified limit |
| b. Pension received by the widow of an employee | 2. Profits in lieu of salary |
| c. Foreign allowance for rendering services abroad | 3. Income from other sources |
| d. Children hostel allowance | 4. Fully exempt from tax |
72. Which of the following part is not taxable as income under the head 'Salaries'?
73. Match the following items of List-I and List-II and select the correct answer:
List I (Sections)
List II (Maximum Deduction)
a. Section 80C of I. T. Act
1. Rs. 10,000
b. Section 80D of I. T. Act
2. Rs. 40,000
c. Section 80 DDB of I. T. Act
3. Rs. 1,00,000
d. Section 80 TTA of I. T. Act
4. Rs. 15,000
| List I (Sections) | List II (Maximum Deduction) |
| a. Section 80C of I. T. Act | 1. Rs. 10,000 |
| b. Section 80D of I. T. Act | 2. Rs. 40,000 |
| c. Section 80 DDB of I. T. Act | 3. Rs. 1,00,000 |
| d. Section 80 TTA of I. T. Act | 4. Rs. 15,000 |
74. Reduce tax liability by deliberately suppressing income or sale or by increasing expenses, etc., which results in reduction of total income of the assessee is called as:
75. Which of the following is based on the measures which circumvent law?
76. Income from a farm house is:
77. To determine the gross income of the taxpayer, the total of the income how many heads are there?
78. Income tax or demand notice or refund order is rounded off to
79. Set-off of losses of the firms is covered under Section
80. Which of the following statements are incorrect?
1. Income tax is grouped in various slabs.
2. Income tax is not charged to progressive rate on increasing slabs of income.
3. A deemed assessee is liable to pay tax on behalf of another person.
4. Assessment year begins as on 1st January of every year.
5. Certain amount of income tax is exempt from income tax.
Select the correct answer using the options given below
1. Income tax is grouped in various slabs.
2. Income tax is not charged to progressive rate on increasing slabs of income.
3. A deemed assessee is liable to pay tax on behalf of another person.
4. Assessment year begins as on 1st January of every year.
5. Certain amount of income tax is exempt from income tax.
Select the correct answer using the options given below
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 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 8
- Income Tax and Corporate Tax - Section 9