Mock test in Income Tax basic concepts for preparation of CA Inter, IPCC, CA Final, CS executive, CS Professional, CMA Inter and CMA final exams. income tax basic concepts are also useful for preparation CBCE commerce Students
income tax basic concepts MCQ's
Time limit: 0
Quiz-summary
0 of 30 questions completed
Questions:
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
Information
Subject :- Taxation
Chapter :- Basic Concepts – Test 1
Questions :- 30
You have already completed the quiz before. Hence you can not start it again.
Quiz is loading...
You must sign in or sign up to start the quiz.
You have to finish following quiz, to start this quiz:
Which of the following is the characteristic of Income Tax ?
Correct
Incorrect
Question 5 of 30
5. Question
1 points
Which of the following is not a characteristic of Income Tax ?
Correct
Incorrect
Question 6 of 30
6. Question
1 points
Income tax is __________
Correct
Incorrect
Question 7 of 30
7. Question
1 points
Income Tax of Previous Year, is charged to tax in the immediately following year called the _________
Correct
Incorrect
Question 8 of 30
8. Question
1 points
Tax is levied at rates of income tax, fixed by the relevant _________
Correct
Incorrect
Question 9 of 30
9. Question
1 points
In case, the Finance Act has been passed as on April 1 of the relevant AY, rates of income tax in the provisions of the _____________ applies to ascertain tax on income.
Correct
Incorrect
Question 10 of 30
10. Question
1 points
Law as on _________ is applied for income tax purpose
Correct
Incorrect
Question 11 of 30
11. Question
1 points
In order to understand the Income Tax Law, a person has to study which of the following ?
Correct
Incorrect
Question 12 of 30
12. Question
1 points
The rate at which total income of an assessee are taxable are categorised into two parts, one is slab rate which is applicable on ___________ and the other is flat rate which is applicable on ___________
Correct
Incorrect
Question 13 of 30
13. Question
1 points
Income-tax law is passed, in which of the following sequence ?
i. FM presents Finance Bill
ii. Passed by Both Houses of Parliament
iii. Receives Assent of the President
iv. Becomes Finance Act
Correct
Incorrect
Question 14 of 30
14. Question
1 points
Finance Bill is presented by the _________
Correct
Incorrect
Question 15 of 30
15. Question
1 points
Finance Bill contains amendments to, and provides for ____________
Correct
Incorrect
Question 16 of 30
16. Question
1 points
Income-tax Act, 1961 came into force as on __________
Correct
Incorrect
Question 17 of 30
17. Question
1 points
There are ____ parts in the First Schedule
Correct
Incorrect
Question 18 of 30
18. Question
1 points
Part I of the First Schedule of Finance Act, 2018 contains _________
Correct
Incorrect
Question 19 of 30
19. Question
1 points
Part II of the First Schedule of Finance Act, 2018 contains _____________
Correct
Incorrect
Question 20 of 30
20. Question
1 points
Part III of the First Schedule of Finance Act, 2018 contains ________
Correct
Incorrect
Question 21 of 30
21. Question
1 points
Part IV of the First Schedule of Finance Act, 2018 contains _________
Correct
Incorrect
Question 22 of 30
22. Question
1 points
Income-tax Act provisions are applicable ____________
Correct
Incorrect
Question 23 of 30
23. Question
1 points
Income-tax Act, 1961 is divided into ________
Correct
Incorrect
Question 24 of 30
24. Question
1 points
Income-tax Act contains provisions relating to _______
Correct
Incorrect
Question 25 of 30
25. Question
1 points
Income-tax Act is subject to amendments from time to time which are brought about by various ________
Correct
Incorrect
Question 26 of 30
26. Question
1 points
CBDT has power make rules u/s
Correct
Incorrect
Question 27 of 30
27. Question
1 points
CBDT has power to make rules which are necessary for the ______________
Correct
Incorrect
Question 28 of 30
28. Question
1 points
Notification is a subordinate legislation and is issued under powers delegated by ____________
Correct
Incorrect
Question 29 of 30
29. Question
1 points
Income Tax Notifications lay down the general law which deals with_____________ aspects of the Income tax Act.
Correct
Incorrect
Question 30 of 30
30. Question
1 points
Income Tax Notifications can be issued by ____________
Correct
Incorrect
income tax basic concepts,basic concept of income tax,income tax basic concepts notes pdf,basic income tax concepts, class 11 commerce