WorksheetsOverview of IT Act, 1961
Total questions: 14
Worksheet time: 7mins
How many Chapters are there in the Income Tax Act, 1961?
XXIX
XXIII
XXIV
XXVI
How many Sections are there in the Income Tax Act, 1961?
293
295
296
298
Definitions are provided in Section _____ of the Income Tax Act, 1961.
1
2
3
4
Previous Year is defined in Section _____ of the Income Tax Act, 1961.
1
2
3
4
Section _____ is the main charging section in Income Tax Act, 1961.
1
4
5
7
Parliament has the power to levy tax on incomes other than ________
Exempt Incomes
Income of poor people
Agricultural Income
Income of President
Highest Administrative Authority for Income Tax in India is ________.
Finance Minister
CBDT
PM of India
Member (Revenue)
Income Tax Act came into force on ________ .
01.04.1961
01.04.1962
01.01.1962
01.01.1961
Explanations gives __________to the main provision.
Meaning
Clarification
Exception
None of the above
Proviso gives __________to the main provision.
Meaning
Clarification
Exception
None of the above
Finance Bill becomes the Finance Act when it is passed by _______.
Lok Sabha
Lok Sabha & Rajya Sabha
Both House of Parliament & signed by Finance Minister
Both House of Parliament & signed by President
Part 1 of schedule I of the Finance Act, 2022 gives the rate of income tax for Assessment Year _______.
2021-22
2022-23
2023-24
Notifications issued by CBDT are binding on _______.
Assessee
Income Tax Authority
Assessee & Income Tax Authority
None
Circulars issued by CBDT are binding on _______.
Assessee
Income Tax Authority
Assessee & Income Tax Authority
None
