1. When the income earned in an year is taxed in the same year, it is called ………………….
a) Advanced Assessment
b) Super Assessment
c) Accelerated Assessment
d) None of the above
2. Surcharge is levied when the total income exceeds ………………….
a) 5 Crore
b) 10 Crore
c) 1 Crore
d) 2 Crore
3. Educational cess is charges at the rate of …….
a) 2%
b) 1%
c) 3%
d) 5%
4. As per Income tax Act, Person includes ……………
a) Individual
b) HUF
c) Local Authority
d) All of the above
5. CBDT stands for ………………………….
a) Central Bureau of Direct Taxes
b) Central Board of Direct Taxes
c) Citizen’s Board of Direct Taxes
d) Citizen’s Bureau of Direct Taxes
6. CBDT is control by ………………………………….
a) Central Government
b) State Government
c) Both (A) and (B)
d) None of this above
7. To be an Ordinarily resident in India, an individual must satisfy ……………………….
a) Both Basic Conditions and One Additional Condition
b) One Basic Condition and Both Additional Conditions
c) One Basic Condition and One Additional Condition
d) Both Basic Conditions and Both Additional Conditions
8. A Company has ………… types of residential status.
a) 2
b) 3
c) 1
d) 4
9. A citizen of India who goes abroad for the purpose of employment, he must stay in India in the previous year for at least .............. days to become a resident
a) 90 days
b) 162 days
c) 180 days
d) 182 days
10. Who is assessee in case of a HUF?
a) Karta
b) Coparceners
c) Deemed Karta
d) None of these