MCQ on Profits and Gains from Business or Profession
1. Business has been defined under section….
… Answer is B)
2(13)
… Answer is A)
sec 35
… Answer is B)
20,000
4. As per section 30, which expenditure incurred for buildiig shall not be allowed as deduction under business and profession ?
… Answer is C)
Capital expenditure
… Answer is A)
30%
… Answer is B)
Section 28
… Answer is D)
All of the above
… Answer is A)
Income Tax Authorities
… Answer is B)
Fully Taxable
… Answer is A)
Disallowed
… Answer is B)
Allowed
… Answer is C)
Block of assets
… Answer is A)
Sales tax
… Answer is B)
Cost or market price, whichever is less
… Answer is D)
All of the above
… Answer is A)
Exempted
Income Tax MCQ / Multiple Choice Questions on Taxation with Answers :
- Income Tax MCQ QUIZ Set-1 (Basic Concept)
- Income Tax MCQ QUIZ Set-2 (Income from Salary)
- Income Tax MCQ QUIZ Set – 3 (Income from Salary)
- Income Tax MCQ QUIZ Set – 4 (Income from salary)
- Income Tax MCQ QUIZ Set – 5 (Income from Salary)
- Income Tax MCQ QUIZ Set – 6 (Income from House Property)
- Income Tax MCQ QUIZ Set – 7 (Income from House Property)
- Income Tax MCQ QUIZ Set – 8 (Income from House Property)
- Income Tax MCQ QUIZ Set – 9 (Profits and Gains from Business or Profession)
- Income Tax MCQ QUIZ Set – 10 (MCQ on Profit and Gain of Business or Profession)
- Income Tax MCQ QUIZ Set – 11 (MCQ on Income from Capital Gain)
- Income Tax MCQ QUIZ Set – 12 (Income from Capital Gains)
- Income Tax MCQ QUIZ Set – 13 (MCQ on Income from Other Sources)
- Income Tax MCQ QUIZ Set – 15 (Agricultural Income)
- Income Tax MCQ QUIZ Set – 16 (Set-off and Carry-forward of Losses)
- Income Tax MCQ QUIZ Set – 17 (Clubbing and Aggregation of Income)
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