1. The income received and accrued outside India from a business controlled or profession set up in India, the tax incidence in case of resident is ……………….
a) Taxable
b) Non-taxable
c) Partly taxable
d) None of the above
2. Pension is taxable under .................. head
a) Salary
b) House property
c) Capital gains
d) other sources
3. Salary received by a Member of Parliament is taxable under the head...................
a) Income from salary
b) Capital gains
c) Profits and gains of business or profession
d) Income from other sources
4. A person is Non-resident if he fails to fulfil .....................
a) The additional conditions
b) At least one of the basic conditions
c) Both basic conditions
d) None of these
5. Income received in India is taxable in the hands of ......................
a) Resident only
b) Resident and ordinarily resident only
c) Non-resident only
d) All assessees
6. ……………………………… is exempted from income tax.
a) Interest from Indian company
b) Dividend from foreign company
c) Cooperative dividend
d) Dividend from Indian company
7. The Income Tax Act,1961 broadly covers ……………………….
a) Basic charging income
b) Rebates and reliefs
c) Incomes exempted from income tax
d) All of the above
8. Any rent or revenue derived from land which is situated in India and is used for agricultural purpose is …………………….
a) Partially taxable
b) Fully taxable
c) Exempted from tax
d) None of the above
9. Residential Status of an assesses can be ………………………….
a) Different for different previous year in the same assessment year
b) Different for different assessment year
c) None of the above
d) All of the above
10. Which of the following is not included in salary income.
a) Commuted pension
b) Un commuted pension
c) Family pension
d) Leave salary