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WorksheetsIntroduction to income tax
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
Tax is paid by...
a)
Individuals only
b)
Businesses only
c)
Individuals and businesses
d)
Individuals, businesses, and the government
2.
Tax is used by each level of government to...
a)
Make politicians rich
b)
Pay for their employees
c)
Pay for services that some of the population use
d)
Provide goods and services that are needed by the community
3.
Income Tax Act was passed in the year
a)
1924
b)
1961
c)
1962
d)
1988
4.
Which is the present Assessment Year?
a)
2018-19
b)
2019-20
c)
2020-21
d)
2001-02
5.
Which is the present Previous Year?
a)
2018-19
b)
2019-20
c)
2020-21
d)
2001-02
6.
TDS
a)
Tax Deducted at Source
b)
Total Deducted at Source
c)
Tax Deducted at Sample
d)
Tax Due at Source
7.
Earnings of a salesperson based on the percentage of goods or services sold.
a)
Salary
b)
Wages
c)
Commission
d)
Deductions
8.
An employee's fixed agreed yearly income.
a)
Salary
b)
Deductions
c)
Wages
d)
Commission
9.
How many weeks in a year?
a)
365
b)
52
c)
26
d)
12
10.
This is paid to the Government once a person's income passes a set amount.
a)
Fees
b)
Wages
c)
Tax
d)
Salary
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