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WorksheetsIncome Tax - 5 SL
Total questions: 20
Worksheet time: 20mins
Income Tax Act was passed in the year
1924
1961
1962
1988
Which is the present Assessment Year?
2018-19
2019-20
2020-21
2021-22
Which is the present Previous Year?
2018-19
2019-20
2020-21
2001-02
TDS
Tax Deducted at Source
Total Deducted at Source
Tax Deducted at Sample
Tax Due at Source
Statement 1: Imposition of taxes is a legislative act.
Statement 2: Collection of taxes is an administrative act.
Only the first statement is correct.
Only the second statement is correct.
Both statements are correct.
Both statements are incorrect.
Statement 1: Tax avoidance is a form of tax escape.
Statement 2: Tax evasion is not punishable.
Only the first statement is correct.
Only the second statement is correct.
Both statements are correct.
Both statements are incorrect.
Income from a business in Pakistan is taxable in the case of non resident in India
True
False
A non resident Indian is not liable to pay tax on his income received in India.
True
False
A person can be resident in more than one country.
True
False
There is no relation of the residential status of individual to his citizenship.
True
False
The residential status of an assessee may change in every the previous year
True
False
The income tax is a direct tax charged annually by the Central Govt.
True
False
Current assessment is for income earned
from 1 April 2019 to 31 march 2020
from 1 April 2020 to 31 march 2021
from 1 Jan 2020 to 31 Dec 2020
from 1 Jan 2019 to 31 Dec 2020
The goal of tax planning generally is to
Minimize taxes
Maximize after-tax wealth
Support the federal government
Minimize IRS scrutiny
When do you start paying taxes?
when you turn 18
when you make more than the minimum income requirement
when you get a full-time job (part-time does not count)
when you are notified by the CBDT that you are required to pay income taxes
This is not a head of income
Income from House Property
Capital Gains
Income from Interest on Securities
Salaries
The term person is defined under this section of Income Tax Act
4
2(31)
2(7)
3
Find the term that does not belong to the group
Ordinary Assessee
Not Oridnarily Assessee
Assessee in default
Representative Assessee
