Income Tax MCQ QUIZ Set – 12 (Income from Capital Gains)

MCQ on Income from Capital Gains Capital Gains Tax MCQs 1. Short term capital assets has been defined….. A) Sec 4(24A) B) Sec 4(22A) C) Sec 2(42A) D) None of the above … Answer is C) Sec 2(42A) Show Answer 2. Long term capital assets has defined u/s A) Sec 2(29A) B) Sec 2 (92A) … Read more

Income Tax MCQ QUIZ Set – 13 (Income from Other Sources)

MCQ on Income from Other Sources MCQ on income from other sources pdf 1. What is the maximum amount of deduction from family pension is….. A) 20,000 B) 15,000 C) 25,000 D) None of the above … Answer is B) 15,000 Show Answer     2. The aggregate value of monetary gift received during the … Read more

Income Tax MCQ QUIZ Set – 9 (Profits and Gains from Business or Profession)

MCQ on Profits and Gains from Business or Profession MCQ on Taxation 1. Business has been defined under section…. A) 2(14) B) 2(13) C) 2(10) D) None of the above … Answer is B) 2(13) Show Answer     2. Expenditure on scientific research – Under section…..? A) sec 35 B) sec 34 C) sec … Read more

Income Tax MCQ QUIZ Set – 8 (Income from House Property)

Income Tax MCQ QUIZ Set – 8 (Income from House Property) Income from House Property MCQ with answers 1. In case of rental house property , the municipal tax is deducted which is …. A) paid by owner B) paid by tenant C) actual amount payble D) None of the above … Answer is A) … Read more

Income Tax MCQ QUIZ Set – 7 (Income from House Property)

Income Tax MCQ QUIZ Set – 7 (Income from House Property) Income from house property MCQ with answers 1. The balance of unabsorbed loss from House property can be carry forward to a maximum of…… ? A) 7 B) 5 C) 6 D) None of the above … Answer is A) 7 Show Answer 2. … Read more

Income Tax MCQ QUIZ Set – 6 (Income from House Property)

MCQ on Income from House Property Income from house property MCQ with answers Also Read:  Income From House Property Notes Stock Market in India – How to know about Share Market Today ? Income Tax on Amazon Associates Earning (Amazon Affiliate Earnings) in 2020  New Income Tax Slab  2020-21 1. The basis of charge Under … Read more

Income Tax MCQ QUIZ Set – 5 (Income from Salary)

Income Tax Multiple Choice Questions MCQ on Income from Salary 1. The assesses can claim relief under which section for arrears or advance salary. A) Section89(2) B) Section 89(1) C) Section89(4) D) None of the Above … Answer is B) Section 89(1) Show Answer     2. The Payment of Gratuity Act came into force … Read more

Income Tax MCQ QUIZ Set – 4 (Income from salary)

Income Tax Multiple Choice Questions MCQ on Income from salary 1. Foreign allowance is A) Fully Exempted Allowance B) Fully Taxable Allowance C) Partly Exempted Allowance D) None of these … Answer is A) Fully Exempted Allowance Show Answer     2. which income is exempted A) City Compensatory Allowance B) Dearness Allowance C) Foreign … Read more

Income Tax MCQ QUIZ Set – 3 (Income from Salary)

Income Tax Multiple Choice Questions MCQ on Income from Salary 1. Income tax rates are fixed in… A) Income tax Act B) Finance Act C) Income tax rules D) Finance rules … Answer is B) Finance Act Show Answer     2. A person with the age of ………… or more is considered as a … Read more

Income Tax MCQ QUIZ Set-2 (Income from Salary)

MCQ on Income from Salary Income from salary MCQ with answers 1. Computation of income from salary section is A) Sec 11-12 B) Sec 15-17 C) Sec 6-10 D) Sec 16-20 … Answer is B) Sec 15-17 Show Answer 2. Deduction allowed against gross salary A) Income tax B) Entertainment tax C) Professional tax D) … Read more