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Income Tax Law & Practice-II (Income from other sources)

Authored by A Jegadishkumar

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University

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Income Tax Law & Practice-II (Income from other sources)
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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

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

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sameer received the following income during PY 2021-22:

Director’s fees ₹ 5,000

Income from agricultural land in Pakistan ₹ 15,000

Rent from let-out of land in Jaipur ₹ 20,000

Interest on deposit with HDFC Bank ₹ 1,000

Dividend from Indian company ₹ 5,000.

His income from other sources is

(A) ₹ 41,000

(B) ₹ 46,000

(C) ₹ 31,000

(D) ₹ 26,000

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Ram received ₹ 80,000 by way of gifts from friends upon retirement from service in a private company.

The amount of gift chargeable to income-tax would be:

(A) Nil

(B) ₹ 30,000

(C) ₹ 70,000

(D) ₹ 80,000

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