Quiz 1

The first income tax act was introduced in the year

• 1918

• 1861

• 1860

• 1886

The apex body of income tax department is.

• FMCG

• CGI

• CBDT

• DR

Income tax act was passed in the year ____

• 1947

• 1950

• 1961

• 1991

Life Insurance Corporation of India is a____

• AOP

• Firm

• Company

• Individual

Salary under section 17(I) does not includes:

• Wages

• Pension

• Interest

• Gratuity

An Auditor can hold the audit of not more than ------- companies

• 20

• 15

• 10

• 30

Auditing means

• Detection and prevention of frauds

• Detection and prevention of errors

• Detection and prevention of errors and frauds

• Controlling of accounts

The liability of auditor can be

• Only civil

• Only criminal

• Either civil and criminal

• Civil and /or criminal