Income Tax MCQ QUIZ Set – 15 (MCQ on Agricultural Income)

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MCQ on Agricultural Income

MCQ on  Taxation – Agricultural Income

1. Agricultural income has been defined u/s…




… Answer is A)
sec 2(1A)
 

 

2. Agricultural income is related to ….



… Answer is B)
Land
 

 

3. Agricultural income includes….



… Answer is D)
All of the above
 

 

4. Rule 7 applicable to all except…..




… Answer is A)
Tea, coffee, and rubber
 

  5. Non-agricultural income formulas = sale proceeds of industrial product – M.V. of agricultural produce used as raw material – industrial expenses (except cost of cultivation)




… Answer is B)
True
 

 

6. Agricultural income formulas = M.V. agricultural produce used as raw material – cost of cultivation



… Answer is A)
True
 

 

7. Rule 8 related to …..



… Answer is B)
Tea manufacturing
 

 

8. Income from coffee manufacturing has been divided as…..



… Answer is A)
75% as agricultural income & 25% as business income
 

 

9. Profit from tea manufacturing has been divided as



… Answer is B)
60% as agricultural income & 40% as business income
 

 

10. Income from rubber manufacturing has been divided as….



… Answer is C)
65% as agricultural income & 35% as business income

11. Nonagricultural income is

            a. fishery

            b. mining

            c. dairy income

            d. All of the above

12. Partly agricultural income is from

            a. nursery

            b. Tea garden

            c. Self-growing tree

            d. None of the above

13. Agricultural income is considered while calculating tax if it is

            a. more than 10,000

            b. more than 5,000

            c. more than 5,000 and the non-agricultural exceed the basic income exemption limit

            d. none of the above

14. Which income related to land is not agricultural income

            a. income from mine

            b. income from royalty from mine

            c. income of a purchaser of standing crop

            d. all of the above

15. income from building used for agriculture is computed as

            a. income from capital gain

            b. income from business and profession

            c. income from house property

D. None of the above

16. losses from agricultural operation can be carried forward and set off with agricultural income for the next how many year…..?

            a. 8 Assessment year

            b.4 Assessment year

            c.6 Assessment year

            d. None of the above

Also Read :

Income Tax MCQ / Multiple Choice Questions on Taxation with Answers :


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