WorksheetsQuiz for LLB
Total questions: 22
Worksheet time: 17mins
What is the tax rate for income above 10 lakhs but less than 12 lakhs as per default tax regime?
What is the maximum turnover for claiming rebate u/s 87A under the default tax regime>
Rs. 7 lakh
Rs. 2.50 lakh
Rs. 3 lakh
Who issues Notifications under Income Tax Act?
Supreme Court
Central Goverment
Charge of Income Tax is under section __ of the Income Tax Act.
4A
5
Which of the following is not an agriculture income?
sale of wheat
sale of sugar cane
sale of aloe vera plant
sale of cotton threads
Who is NOT an assessee as per the Income Tax Act?
A student receiving a scholarship.
Which income is considered for calculation of Tax?
Gross Total Income
Net Taxable Income
Both
None of the above
What is the basic tax for an income of INR 6,00,000 earned by Mr. Rohit (aged 85 years) under old tax regime?
INR 1,20,000
INR 14,500
INR 6,000
Mr. Anderson (an American Citizen and NR) and earned an Income of INR 6,00,000 claims that he does not have to pay any tax since his income is below the threshold limit of rebate u/s 87A. Is his claim right?
Yes
No
A HUF will be called resident on the basis of
Residential status of the Karta
Control and Management in India
What is the difference between Gross Total Income and Net Taxable Income?
Chapter VIA Deductions
Standard Deduction
No difference
If the Financial Year is 2023-24, it is the
Previous Year for Assessment Year 2024-25
Assessment Year for Previous Year 2022-23
It has 366 days in the year
All of the above
If a person has total income of Rs.650000, he should opt for:
Default Tax Regime
Optional Tax Regime
Indifferent
Following are the particulars of Income of Kishore:
Income from agriculture in Indonesia – 12350
Will it be taxable for Kishore?
No
Yes
Which section talks about the residential status of a person?
Section 6
Section 4
Section 5
Section 7
If Mr.Chintu earns income from growing and manufacturing tea, how much percentage will be treated as Agriculture Income?
60%
40%
75%
25%
What is not the conditions for applicability of Partial Integration of Agriculture Income?
Should be Person (other than Company or Firm),
Agriculture Income should not be more than INR 5000
Non Agriculture Income should be above Basic Exemption Limit
Agriculture Income should be more than INR 5000
Which section defines a Person under the Income Tax Act?
Section 2(47)
Section 2(24)
Section 4
What is the basic tax for a person (aged 50 years) for an income of Rs.2,50,000 under new tax regime?
NIL
12,500
5000
None of Them
Which of the following in NOT an income:
received in kind
illegal income
past profits
foreign income
Name?
SAP Id?
