1. Income Tax Act was passed in the year ……….
a) 1934
b) 1956
c) 1961
d) 1972
2. Income Tax Act came into force on …………
a) 1st April 1935
b) 1st April 1961
c) 1st April 1962
d) 1st April 1956
3. Income tax is a ………………….
a) Professional tax
b) Direct tax
c) Indirect tax
d) Service tax
4. Income tax rates are fixed in …………….
a) Income tax Act
b) Finance Act
c) Income tax rules
d) Finance rules
5. There are …………… heads of income
a) 3
b) 4
c) 5
d) 2
6. A person with the age of ………… or more is considered as a super senior citizen as per Income tax Act.
a) 56
b) 60
c) 80
d) 85
7. The minimum exceptional limit of income is ……………….
a) 250,000
b) 200,000
c) 300,000
d) 500,000
8. Rebate of Income tax is defined as per section …………….
a) 81A
b) 87A
c) 81C
d) 87C
9. Section 2(9) of Income tax deals with ………….
a) Person
b) Assessee
c) Previous Year
d) Assessment Year
10. Assessment year is the period of 12 months commencing from …………… Every year.
a) 1st March
b) 31st March
c) 1st April
d) 30th April