MCQOPTIONS
Saved Bookmarks
MCQOPTIONS
This section includes 59 Mcqs, each offering curated multiple-choice questions to sharpen your Bachelor of Commerce (B Com) knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
where the amount of an expenditure claimed as deduction exceeds Rs.10,000, it should be paid by ______ |
| A. | Crossed cheque |
| B. | Account payee cheque / draft |
| C. | Cash |
| D. | None of these |
| Answer» C. Cash | |
| 52. |
Municipal valuation of the house is Rs.1,20,000, fair rent 1,40,000, standard rent Rs.1,30,000 and actual rent received or receivable is Rs.1,25, 000.The gross annual value in this case shall be ______ |
| A. | 1,30,000 |
| B. | 1,25,000 |
| C. | 1,40,000 |
| D. | 1,60,000 |
| Answer» D. 1,60,000 | |
| 53. |
M.has taken a house on rent and sublets the same to A, income of M from such house property shall be taxable under the head _____________ |
| A. | Income from house property |
| B. | Income from other sources |
| C. | Business income |
| D. | Income |
| Answer» C. Business income | |
| 54. |
Income accruing in Japan and received there is taxable in India in the case of ______________ |
| A. | Resident and ordinarily resident only |
| B. | A resident but not ordinarily resident |
| C. | A non -resident |
| D. | Resident |
| Answer» B. A resident but not ordinarily resident | |
| 55. |
Income which accrue in India from a business controlled from India _________________ |
| A. | Is taxable only for resident |
| B. | Is not taxable only for non resident |
| C. | Is taxable for resident, a resident but only ordinarily resident non- resident |
| D. | Is exempt in all cases |
| Answer» C. Is taxable for resident, a resident but only ordinarily resident non- resident | |
| 56. |
Income received in India ____________ |
| A. | Is taxable only for Resident |
| B. | Is not taxable only for a non -resident |
| C. | Is taxable for a resident, a resident but only ordinarily resident non -resident |
| D. | Is exempt in all cases. |
| Answer» D. Is exempt in all cases. | |
| 57. |
M.a chartered accountant is employed with M ltd, as an internal auditor and requests the employer to call the remuneration as internal audit fee.M. shall be chargeable to tax for such fees under the head __________ |
| A. | Income from salaries |
| B. | Profit and gains from business and profession |
| C. | Income from other sources |
| D. | None of these |
| Answer» B. Profit and gains from business and profession | |
| 58. |
Salary of M becomes due on 1st of next month and it is paid on 7th of that month. For the assessment year 2018-19, the salary of M shall be taken from ________ |
| A. | April 2017 to March 2018 |
| B. | March 2017 to February 2018 |
| C. | April 2018 to March 2019 |
| D. | April 2019 to March 2020 |
| Answer» C. April 2018 to March 2019 | |
| 59. |
M, who is entitled to salary of Rs.12,000 p.m. took advantage salary from his employer for the month of March, 2018 on 31-3-2018.The gross salary of M for assessment year 2018-19 shall__________ |
| A. | 1,44,000 |
| B. | 1,68,000 |
| C. | Rs.24,000 |
| D. | 2,90,000 |
| Answer» C. Rs.24,000 | |