WorksheetsSample Paper for ICA 1
Total questions: 20
Worksheet time: 11mins
Which Article of the Constitution allows the Authority of law to collect taxes?
Article 265
Article 264
Article 12
Which tax regime is called as the default tax regime?
Optional Tax Regime
The default tax regime has different rates for senior citizens. True or False?
True
False
If the Net Taxable Income of a person is INR 3,00,000 for AY 2025-26, He should opt for default tax Regime or Optional Tax Regime?
Indifferent
What is the Tax Liability (only Basic Tax) if the income of a person is 5,00,000 under optional tax regime? Ignore Rebate.
NIL
Who are called Super Senior Citizens under the Income tax Act?
Individuals aged 60 years and above.
Individuals aged above 80 years
Who makes the Income Tax Rules?
Who is NOT a person under the Income Tax Act?
God
An Alien
What is the maximum rebate u/s 87A under the default tax regime?
Rs 20,000
Rs 25,000
Rs 15,000
Rs 12,500
Who is the current Finance Minister of India?
Which are the conditions to be fulfilled to become an Resident and Ordinarily Resident?
Be a Non Resident for two out of 10 PPYs and stay for 730 days in 7 PPYs
Be a Resident for two out of 10 PPYs and stay for 730 days in 7 PPYs
Be a Resident for two out of 10 PPYs and stay for 729 days or less in 7 PPYs
Be a Resident for two out of 10 PPYs OR stay for 730 days in 7 PPYs
Calculate the total stay in India for the crew member of an Indian Ship.
Date of Joining = 6th May 2024
Date of Signing Off = 6th Feb 2025
88 days
90 days
89 days
87 days
If Mr. R ( American Citizen) comes to visit India for the 1st time for 60 days during the PY, Is he a Resident?
What is the basic exemption limit for Mr. Suman (58 years old) under the Optional tax Regime?
Rs. 7 lakh
What is the highest rate of surcharge under the default tax regime?
37%
Mr. X (a non resident) shall have to pay no tax till an income of Rs.7 lakhs under the old tax regime. True or False?
Residential Status is determined for the
Previous Year
Assessment Year
Accounting Year
Both PY and AY
A person who fulfils any one condition of ROR is
ROR
RNOR
NR
Who will be taxed for "Income from Agriculture Land in Australia, received there"
ALL
ROR
RNOR
NR
Income accrue or arise in India will be taxed for
ROR and RNOR
ROR
RNOR and NR
ALL
