Explore topic-wise MCQs in Income Tax & Taxation.

This section includes 4 Mcqs, each offering curated multiple-choice questions to sharpen your Income Tax & Taxation knowledge and support exam preparation. Choose a topic below to get started.

1.

Match List I with List II List I List IIA. 80 GG I. Deduction in respect of contribution given by companies to political parties.B. 80 GGAII. Deduction in respect of contribution given by any person to political parties.C. 80 GGBIII. Deduction in respect of scientific research.D. 80 GGC IV. Deduction in respect of rent paid.Choose the correct answer from the options given below:

A. A - IV, B - III, C - I, D - II
B. A - III, B - IV, C - II, D - I
C. A - IV, B - III, C - II, D - I
D. A - IV, B - II, C - I, D - III
Answer» B. A - III, B - IV, C - II, D - I
Discussion
2.

As per section 80G maximum deduction allowed for any cash donation is upto

A. Rs. 1,000
B. Rs. 2,000
C. Rs. 5,000
D. Rs. 10,000
Answer» C. Rs. 5,000
Discussion
3.

Mr. X is entitled to transport allowance of Rs. 1,800 p.m. for commuting from his residence to office and back and he spends Rs. 1,400 p.m. The exemption shall be allowed of

A. Rs. 1,800 p.m.
B. Rs. 1,400 p.m.
C. Rs. 1,600 p.m.
D. Nil
Answer» C. Rs. 1,600 p.m.
Discussion
4.

Match the items of List I with those of List II and choose the correct code of combination:List IList IIa.80 GGCi.Deduction in respect of rent paidb.80 GGii.Deduction in respect of contribution given by company to political partiesc.80 GGAiii.Deduction in respect of contribution given by any person to political partiesd.80 GGBiv.Deduction in respect of certain donations for scientific research

A. a-iii, b-i, c-ii, d-iv
B. a-iii, b-ii, c-iv, d-i
C. a-iii, b-i, c-iv, d-ii
D. a-i, b-ii, c-iii, d-iv
Answer» D. a-i, b-ii, c-iii, d-iv
Discussion