Income Tax Quiz

Which year was income tax first introduced in India?

• 1860

• 1947

• 1950

• 1961

Who introduced the first Income Tax Act in India?

• Lord Curzon

• James Wilson

• Lord Mountbatten

• Jawaharlal Nehru

The present Income Tax Act came into force in the year:

• 1950

• 1960

• 1961

• 1972

The main objective of taxation is:

• Control inflation

• Raise revenue for the government

• Encourage imports

• Decrease GDP

Income tax is a:

• Direct tax

• Indirect tax

• Value-added tax

• Sales tax

Which of the following is not a feature of income tax in India?

• Progressive in nature

• Indirect in nature

• Levied on income

• Governed by Income Tax Act, 1961

Which Article of the Constitution empowers the central government to collect income tax?

• Article 246

• Article 265

• Article 248

• Article 246(1)

Income under the Income Tax Act refers to:

• Only salary

• Profits or gains

• All receipts

• Profits, salaries, rent, interest, etc.

How many heads of income are specified under the Income Tax Act?

• 3

• 5

• 6

• 7

Income Tax is levied by:

• State Government

• Municipal Corporation

• Central Government

• Both State and Central Government