Income Tax Quiz

The constitution of India empowers_______________ to levy tax on income

• State Government

• Central Government

• Parliament

• Finance Minister

Income tax is a tax on ______________.

• Income

• Profit

• Turnover

• Expenditure

The Income Tax Act, 1961 has 298 _______________.

• Sections

• Sub-sections

• Clauses

• Sub-clauses

The ______________ makes the amendment in the form of omissions, insertions and substitutions in the Income Tax Act.

• Finance Bill

• Finance Minister

• Finance Act

• Parliament

The Income Tax Act extends to ______________ of India.

• States

• Union Territories

• Citizens

• Whole

Gross tax liability is calculated on _____________.

• Gross total income

• Net taxable income

• Income

• Salary

The term HUF stands for __________.

• Hindu divided family

• Human undivided family

• Hindu undivided family

• Human divided family

Residential has nothing to do with __________.

• Constitution

• Citizenship

• Censorship

• Change

AOP is the abbreviation used for __________.

• Association of Persons

• Association of Professors

• Association of Panchayats

• Associations of Persons

AOP should consist of __________.

• Individual only

• Person other than individual also

• None of the above

• Both of the above