Income Tax Law & Practice-II (Income from other sources)
Authored by A Jegadishkumar
Arts
University
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Ms. Sitara is in receipt of family pension of ₹ 15,000 p.m. during 2021-2022. Income chargeable to tax for AY 2022-23 of Ms. Sitara is
(A) ₹ 1,80,000
(B) ₹ 1,20,000
(C) ₹ 1,65,000
(D) Nil
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
While making payment of winnings from horse race, the tax will be deducted at source, if the payment exceeds
(A) ₹ 5,000
(B) ₹ 10,000
(C) ₹ 25,000
(D) ₹ 50,000
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A member of Parliament received ₹ 1,50,000 per month as salary and ₹ 4,50,000 as daily allowances during PY 2021-22. The taxable amount will be
(A) Salary ₹ 18,00,000
(B) Income from profession ₹ 22,50,000
(C) Income from other sources ₹ 18,00,000
(D) Nil
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A lady received gifts worth ₹ 1,00,000 from her relatives as defined under the Income-tax Act, 1961, and ₹ 60,000 from her office colleagues on her marriage anniversary.The taxable amount of gifts would be
(A) ₹ 1,60,000
(B) ₹ 60,000
(C) ₹ 10,000
(D) ₹ 1,10,000
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Amit received ₹ 70,000 being winnings from lottery after deduction of tax at source.
His gross winnings from the lottery to be included in the total income is
(A) Nil
(B) ₹ 1,00,000
(C) ₹ 70,000
(D) ₹ 30,000
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