WorksheetsIncome Tax Laws (BCOM 214)
Total questions: 10
Worksheet time: 7mins
Income Tax Act was passed in the year ________.
1947
1961
1991
2017
Income received or deemed to be received in India (whether accrued in or outside India) is taxable in case of
Resident
Non-Resident
Not Ordinarily Resident
All of the above
According to Section 2(7) of Income Tax Act "Assessee" means a person by whom any tax or other sum of money is payable by whom any proceeding under the Act has been taken
By whom any tax or other sum of money is payable
By whom any proceeding under the Act has been taken
Who is deemed to be an assessee in default under any provision of this Act
All of the above
A company is considered to be resident if:
It is an Indian Company
During PY, foreign company’s POEM is in India
Both (a) & (b)
Any of the above All of them
The highest rate of income-tax applicable on total income of an individual is
42.744
30%
37%
45%
Surcharge applicable to an Individual whose total income is Rs. 4.5 crores is
Nil
25%
37%
15%
Rate of education cess on total income is ___________.
2%
3%
4%
5%
______________are not treated as agricultural income. Income from poultry farming
Income from poultry farming
Income from bee heaving
Purchase of standing crop
All of the above
Foreign income received in India during the previous year is taxable in the case of
ROR
RNOR
NR
All of the above
Mr. PRC is Karta of HUF doing business at DELHI. Mr. PRC is residing in Dubai for past 10 years & visited India for 20 days every year for filing Income tax return of HUF. His 5 major sons take care of the day-to-day affairs of business in India. Residential status of HUF for AY 2022-23 is:
ROR
RNOR
NR
All of the above
