
MCQs on DIT 2
Quiz
•
Financial Education
•
Professional Development
•
Easy
Jai Kotecha
Used 1+ times
FREE Resource
20 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Agriculture income received from outside India will be
Taxable under the head Profit and Gains of Business or Profession
Taxable under the head Income from other sources
Exempt from tax
A. None of these
2.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
If A receives ₹31,000 from B and ₹20,000 from C, then, what will be the taxable amount?
NIL
1,000
51,000
50,000
3.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Which of the following income is not taxable under the head income from other sources?
Income from letting
Income from sub letting
Director's fees
Commission received by the director on giving bank guarantee for the company
4.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Family pension received by a widow of a member of the armed forces where the death of the member has occurred in the course of the operational duties in the circumstances and subject of prescribed conditions, is
Exempt upto ₹3,00,000
Exempt upto ₹3,50,000
Totally exempt
Totally chargeable to tax
5.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Capital asset excludes all assets except
Stock in trade
Personal effect
Jewellery
Rural agricultural land
6.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
In order to enjoy exemption under section 54EC, the resultant long term capital gains should be invested in specified bonds within a period from the date of transfer
36 months
24 months
12 months
6 months
7.
MULTIPLE CHOICE QUESTION
2 mins • 1 pt
Capital gains is calculated when
Any asset is transferred
any capital asset is transferred
any asset is transferred or not transferred
any capital asset is transferred or not transferred
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