Category: Direct Tax Laws and International Taxation
The normal tax rates applicable to a resident individual will depend on the _________.
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Question 2 of 27
2. Question
1 points
Category: Direct Tax Laws and International Taxation
For the assessment year 2019-20, the basic exemption limit in case of a resident individual of the age of below 60 years is Rs. ___________
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Question 3 of 27
3. Question
1 points
Category: Direct Tax Laws and International Taxation
For the assessment year 2019-20, the basic exemption limit in case of a resident individual of the age of 60 years or above but below 80 years is Rs. ___________.
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Incorrect
Question 4 of 27
4. Question
1 points
Category: Direct Tax Laws and International Taxation
For the assessment year 2019-20, the basic exemption limit in case of a resident individual of the age of 80 years or above is Rs. ___________.
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Incorrect
Question 5 of 27
5. Question
1 points
Category: Direct Tax Laws and International Taxation
For the assessment year 2019-20, the basic exemption limit in case of a non-resident individual irrespective of his age is Rs. ___________.
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Incorrect
Question 6 of 27
6. Question
1 points
Category: Direct Tax Laws and International Taxation
For the assessment year 2019-20, the basic exemption limit in case of a Hindu Undivided Family is Rs. ___________.
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Incorrect
Question 7 of 27
7. Question
1 points
Category: Direct Tax Laws and International Taxation
In the case of an individual, surcharge @ ___ is levied on the amount of income-tax if total income exceeds Rs._________
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Question 8 of 27
8. Question
1 points
Category: Direct Tax Laws and International Taxation
A resident individual, whose total income does not exceed Rs. 3,50,000 is eligible for rebate under section 87A. The amount of rebate is income tax payable or Rs. _______, whichever is less.
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Incorrect
Question 9 of 27
9. Question
1 points
Category: Direct Tax Laws and International Taxation
As per section 115BBE, any cash credit found in the books of the assessee which remains unexplained shall be charged to tax at a flat rate of __________ (plus surcharge and cess as applicable).
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Question 10 of 27
10. Question
1 points
Category: Direct Tax Laws and International Taxation
“Health and Education cess (HEC)” is to be calculated at the rate of __________of income-tax and surcharge.
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Incorrect
Question 11 of 27
11. Question
1 points
Category: Direct Tax Laws and International Taxation
The gross total income of Mr. X, a resident aged 30 years, comprises of salary (Rs.3,85,000) and interest on savings bank (Rs.8,000). Compute his tax liability, assuming that he had deposited Rs.50,000 in public provident fund.
Correct
Incorrect
Question 12 of 27
12. Question
1 points
Category: Direct Tax Laws and International Taxation
Mr. X, resident, 35 years, has only income from business:- Rs.12,00,000. Compute his tax liability.
Correct
Incorrect
Question 13 of 27
13. Question
1 points
Category: Direct Tax Laws and International Taxation
The gross total income of Mr. X, a resident aged 30 years, comprises of business income (Rs.11,50,000) and Long term capital Gain (Rs.1,00,000). Compute his tax liability, assuming that
he had deposited Rs.50,000 in public provident fund.
Correct
Incorrect
Question 14 of 27
14. Question
1 points
Category: Direct Tax Laws and International Taxation
Mr. X, resident, 35 years, has only income from business:- Rs.3,40,000. Compute his tax liability.
Correct
Incorrect
Question 15 of 27
15. Question
1 points
Category: Direct Tax Laws and International Taxation
The gross total income of Mr. X, a resident aged 30 years, comprises of business income (Rs.2,70,000) and Long term capital Gain (Rs.1,00,000). Compute his tax liability, assuming that
he had deposited Rs.30,000 in public provident fund.
Correct
Incorrect
Question 16 of 27
16. Question
1 points
Category: Direct Tax Laws and International Taxation
The gross total income of Mr. X, a resident aged 62 years, comprises of pension income
(Rs.90,000) and Long term capital Gain (Rs.10,00,000). Compute his total income assuming that he had deposited Rs.70,000 in public provident fund and paid life insurance premium on his own life Rs. 82,000
Correct
Incorrect
Question 17 of 27
17. Question
1 points
Category: Direct Tax Laws and International Taxation
The gross total income of Mr. X, a resident aged 62 years, comprises of pension income (Rs.90,000) and Long term capital Gain (Rs.10,00,000). Compute his tax liability assuming that he
had deposited Rs.70,000 in public provident fund and paid life insurance premium on his own life Rs. 82,000
Correct
Incorrect
Question 18 of 27
18. Question
1 points
Category: Direct Tax Laws and International Taxation
The gross total income of Mr. X, a resident aged 35 years, comprises of business income
(Rs.10,50,000) and Long term capital Gain u/s. 112 A (Rs.2,00,000). Compute his tax liability assuming that he had deposited Rs.70,000 in public provident fund and paid life insurance
premium on his own life Rs. 82,000
Correct
Incorrect
Question 19 of 27
19. Question
1 points
Category: Direct Tax Laws and International Taxation
The gross total income of Mr. X, a resident aged 26 years, comprises of short term capital gain (Rs.4,22,000) and short term capital Gain u/s. 111 A (Rs.1,20,000). Compute his tax liability
assuming that he had deposited Rs.12,000 in public provident fund.
Correct
Incorrect
Question 20 of 27
20. Question
1 points
Category: Direct Tax Laws and International Taxation
The gross total income of Mr. X, a resident aged 22 years, comprises of business income (Rs.1,52,000) and short term capital Gain u/s. 111 A (Rs.1,48,000). Compute his tax liability
assuming that he had deposited Rs.10,000 in public provident fund.
Correct
Incorrect
Question 21 of 27
21. Question
1 points
Category: Direct Tax Laws and International Taxation
Mr. X, resident, has only income by way of winning from lottery:- Rs.50,000. Compute his tax liability assuming that there is no tax was deducted at source.
Correct
Incorrect
Question 22 of 27
22. Question
1 points
Category: Direct Tax Laws and International Taxation
During the previous year, Mr. KJ Shah, 28 years, resident , earned business income of Rs.3,10,000 and Rs. 30,000 under the head “Income from other sources”. He also earned agriculture income
of Rs. 5,00,000. Compute his tax liability.
Correct
Incorrect
Question 23 of 27
23. Question
1 points
Category: Direct Tax Laws and International Taxation
During the previous year, Mr. KJ Shah, 28 years, resident , earned business income of Rs.3,10,000 and Rs. 30,000 under the head “Income from other sources”. He also earned agriculture income
of Rs. 10,00,000. Compute his tax liability.
Correct
Incorrect
Question 24 of 27
24. Question
1 points
Category: Direct Tax Laws and International Taxation
During the previous year, Mr. Mahesh, 35 years, resident, earned business income of Rs.4,20,000
and Rs.2,80,000 under the head “Income from other sources”. He also earned agriculture income of Rs. 4,00,000. Compute his tax liability assuming that he is eligible for deduction under section
80C of Rs. 22,000
Correct
Incorrect
Question 25 of 27
25. Question
1 points
Category: Direct Tax Laws and International Taxation
During the previous year, Mr. Ganesh, 24 years, resident, earned business income of Rs.1,40,000 and agriculture income of Rs. 5,60,000. Compute his tax liability.
Correct
Incorrect
Question 26 of 27
26. Question
1 points
Category: Direct Tax Laws and International Taxation
During the previous year, Mr. Kartikey, 31 years, resident, earned business income of Rs.5,00,000 and agriculture income of Rs. 5,000. Compute his tax liability.
Correct
Incorrect
Question 27 of 27
27. Question
1 points
Category: Direct Tax Laws and International Taxation
During the previous year, Mr. X, 40 years, resident, earned business income of Rs.1,50,000, LTCG Rs. 1,80,000 and agriculture income of Rs. 10,00,000. Compute his tax liability.
Correct
Incorrect
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