Sunil wants to claim rebate u/s 87A of R.2,500. It shall be available, if he is having total income upto________
Correct
Incorrect
Question 2 of 30
2. Question
1 points
Category: Taxation
The surcharge applicable in case of a Play Peon Private Limited, an Indian company, whose total income is Rs. 12 crores is ___________
Correct
Incorrect
Question 3 of 30
3. Question
1 points
The applicable rate of Income-tax in case of a Jhilmil Private Limited, an Indian company, whose place of management is outside India is __________
Correct
Incorrect
Question 4 of 30
4. Question
1 points
Category: Taxation
The applicable rate of Income-tax in case of Alpha Inc., a foreign company is _______
Correct
Incorrect
Question 5 of 30
5. Question
1 points
Category: Taxation
The applicable rate of income-tax in case of Branch office of Alpha Inc., a Foreign company is ___________
Correct
Incorrect
Question 6 of 30
6. Question
1 points
Category: Taxation
Every assessee is a person, every person__________ be an assessee
Correct
Incorrect
Question 7 of 30
7. Question
1 points
Category: Taxation
The gross total income must be rounded off to the multiple of __________
Correct
Incorrect
Question 8 of 30
8. Question
1 points
Category: Taxation
The applicable rate of Income-tax in case of a firm is __________
Correct
Incorrect
Question 9 of 30
9. Question
1 points
Category: Taxation
The applicable rate of Income-tax in case of a XYZ Private Limited, whose revenue for FY 2017-18 is Rs. 100 crores, for FY 2018-19 is ____________
Correct
Incorrect
Question 10 of 30
10. Question
1 points
Category: Taxation
The applicable rate of Income-tax in case of ABC Private Limited, whose revenue for FY 2017-18 is Rs.400 crores, for FY 2018-19 is __________
Correct
Incorrect
Question 11 of 30
11. Question
1 points
Category: Taxation
Power to impose tax on all income except agriculture income is with
Correct
Incorrect
Question 12 of 30
12. Question
1 points
Category: Taxation
Which of the following entry of Schedule VII of the Constitution of India gives the power to Central Government to impose tax on all income except agriculture income ?
Correct
Incorrect
Question 13 of 30
13. Question
1 points
Category: Taxation
Power to impose tax on agriculture income is with ______
Correct
Incorrect
Question 14 of 30
14. Question
1 points
Category: Taxation
The Income Tax Act, 1961 came into force on ________
Correct
Incorrect
Question 15 of 30
15. Question
1 points
Category: Taxation
The Income Tax Act, 1961 extends to ______
Correct
Incorrect
Question 16 of 30
16. Question
1 points
Category: Taxation
The Income Tax Act, 1961 has total ______ schedules.
Correct
Incorrect
Question 17 of 30
17. Question
1 points
Category: Taxation
Who has power to make the Rules under the Income Tax Act, 1961 ?
(1) Central Government
(2) CBDT
(3) CBEC
Select the correct answer from the options given below-
Correct
Incorrect
Question 18 of 30
18. Question
1 points
Category: Taxation
Circulars issued by the CBDT are binding on ______
(i) Income tax authorities
(ii) Assessee
(iii) Income Tax Tribunal
(iv) Courts
Select the correct answer from the options given below-
Correct
Incorrect
Question 19 of 30
19. Question
1 points
Category: Taxation
Supreme Court’s decisions are binding on-
(i) Income tax authorities
(ii) Assessee
(iii) Income Tax Tribunal
(iv) High Courts
Select the correct answer from the options given below-
Correct
Incorrect
Question 20 of 30
20. Question
1 points
Category: Taxation
Who present the Finance Bill in the Parliament ?
Correct
Incorrect
Question 21 of 30
21. Question
1 points
Category: Taxation
Amendments made by Finance Act, 2018 generally become applicable from _____
Correct
Incorrect
Question 22 of 30
22. Question
1 points
Category: Taxation
PART I of the Finance Act, 2018 will deal with _______
Correct
Incorrect
Question 23 of 30
23. Question
1 points
Category: Taxation
Which of the following cannot be treated as person u/s 2(3 I) of the Income Tax Act, 1961 ?
(I) HUF
(II) AOP
(III) BOI
(IV) Artificial Juridical Person
Select the correct answer from the options given below –
Correct
Incorrect
Question 24 of 30
24. Question
1 points
Category: Taxation
PART II of the Finance Act, 2018 will deal with _______
Correct
Incorrect
Question 25 of 30
25. Question
1 points
Category: Taxation
Which of the following is/are include in definition of “Local Authority’ as defined in Section 10(20) of the Income Tax Act, 1961?
(a) Panchayat
(b) LLP
(c) Cantonment Board
(d) District Boards
(e) Municipal Committee
Select the correct answer from the options given below-
Correct
Incorrect
Question 26 of 30
26. Question
1 points
Category: Taxation
Sum received on maturity under the Keyman Insurance Policy ___________ if the policy is taken in the name of an employee.
Correct
Incorrect
Question 27 of 30
27. Question
1 points
Category: Taxation
PART III of the Finance Act, 2018 will deal with _____
Correct
Incorrect
Question 28 of 30
28. Question
1 points
Category: Taxation
Which of the following person can be treated as ‘assessee’ u/s 2(7) of the Income Tax Act, 1961 ?
(1) Any person in respect of whom proceeding has been taken
(2) Any person who is deemed to be an assessee
(3) Any person who fails to comply with duties imposed under the act
(4) Any person against whom Assessing Officer has issued letter of enquiry
Correct
Incorrect
Question 29 of 30
29. Question
1 points
Category: Taxation
As per section 2(29C) of the Income Tax Act, 1961, Maximum Marginal Rate (MMR) is the rate of income including surcharge, if any, applicable in relation to highest slab of income, specified in the Finance Act for the relevant year, in case of following persons,-
(i) An inidividual
(ii) An AOPCo-operative Society
(iii) An AOP
(iv) LLP
(v) BOI
(vi) Company
Select the correct answer from the options given below-
Correct
Incorrect
Question 30 of 30
30. Question
1 points
Category: Taxation
PART IV of the Finance Act, 2018 will deal with ______
Correct
Incorrect
Ekvij provides online exams For CA,CMA and CS examinations