BBA ICA Quiz

In case of RNOR, income taxable in India includes:

• Income received in India

• Income accrued in India

• Income from business controlled in India

• All of the above

Salary received in India by a non-resident for services rendered outside India is:

• Not taxable in India

• Fully taxable in India

• Exempt

• Taxable partly

Past untaxed foreign income brought into India in later years is:

• Taxable in the year of remittance

• Not taxable

• Partly Taxable

• Taxable only for residents

Krishna (born in Mathura), left India for the purpose of employment on 10th April 2024 and came back to Vrindavan on 1st Feb 2025. He had recently shifted to India on 10th of March 2024. before that he was in Australia for 15 years. What is his residential status?

• ROR

• RNOR

• NR

Who makes circulars under Income Tax Act?

• Ministry of Finance
• Income Tax Department
• Central Board of Direct Taxes (CBDT)
• State Tax Authority

What is the percentage of tax for a person who earns income between 3 lakhs to 7 lakhs under New Tax Regime?

• 15%
• 10%
• 5%
• 20%

Income Tax Act came into effect on:

• April 1, 1961

• April 1, 1962
• April 1, 1965

• April 1, 1970

Income remitted to India is taxable for:

• ROR

• RNOR

• NR

• None of the above

Calculate Tax Payable (basic tax only) under old tax regime for Mr.Raj (Aged 63 years and Non - Resident) for an income of INR 5 lakhs

• INR 10000

• INR 15000
• INR 20000
• INR 12500

Which school of Hindu Law does not give property rights to the Coparceners by birth?

• Dayabhaga
• Vedic
• Smriti
• Mitakshara