Definitions and Charge of Income Tax

Definitions and Charge of Income Tax

Professional Development

7 Qs

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Definitions and Charge of Income Tax

Definitions and Charge of Income Tax

Assessment

Quiz

Professional Development

Professional Development

Medium

Created by

Rucha Jog

Used 6+ times

FREE Resource

7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Income Tax Act extends to whole of India Except State of Jammu and Kashmir.

True

False

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Rate of Income Tax is stipulated in the __________.

Annual Fianance Act

Income Tax Act, 1961

Annual Finance Bill

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The year in which the income is earned is known as ______________.

Assessment Year

Accounting Year

Previous Year

Financial Year

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Mr. Jack, Partner of M/s. Jack & Jill, is assessable as __________.

A Firm

An Individual

A Body of Individuals

A HUF

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Section ____ defines Resident under Income Tax Act, 1961.

2(9)

2(41)

2(42)

2(8)

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A person by Whom Penalty and Interest is payable under Income Tax Act, 1961 is _______.

Not an Assessee

An Assessee

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Man of the Match prize received by a professional sportsman is Income as per Income Tax Act.

True

False