MCQOPTIONS
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MCQOPTIONS
This section includes 12 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.
| 1. |
An individual is said to be resident in India if he stays for_ days during the previous year |
| A. | 180 |
| B. | 182 |
| C. | 183 |
| D. | 184 |
| Answer» C. 183 | |
| 2. |
Gifts received from others on the occasion other than marriage would be taxable if the aggregate amount exceeds |
| A. | Rs 50,000 |
| B. | Rs 51,000 |
| C. | Rs 52,000 |
| D. | Neither of the above |
| Answer» B. Rs 51,000 | |
| 3. |
The period of 12 months commencing on the first day of April every year and ending on 31st March is called as . |
| A. | Previous Year |
| B. | Assessment year |
| C. | Accounting Year |
| D. | Financial Year |
| Answer» C. Accounting Year | |
| 4. |
Capital gain tax shall not be chargeable on disposal of securities which are held for a period of __________. |
| A. | one year |
| B. | two years |
| C. | three years |
| D. | six months |
| Answer» B. two years | |
| 5. |
Gain on disposal of immovable property is chargeable to at _____%, where holding period is up to one year. |
| A. | 10 |
| B. | 2 |
| C. | 6 |
| D. | 12 |
| Answer» B. 2 | |
| 6. |
The tax incidence for company or firm in which income received outside India from a source controlled from India for non-resident is . |
| A. | Non-taxable |
| B. | Taxable |
| C. | Partly taxable |
| D. | None of the above |
| Answer» B. Taxable | |
| 7. |
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 |
| Answer» D. 85 | |
| 8. |
The tax incidence for company or firm in which income received in India and company for non-resident is . |
| A. | Taxable |
| B. | Non-taxable |
| C. | Partly taxable |
| D. | None of the above |
| Answer» B. Non-taxable | |
| 9. |
Income received in India whether occurred in India or outside India, the tax incidence in case of resident is . |
| A. | Taxable as per slabs |
| B. | Exempted from tax |
| C. | Partly exempted |
| D. | None of the above |
| Answer» B. Exempted from tax | |
| 10. |
Income deemed to be received in India whether occurred in India or outside India, the tax incidence in case of resident is . |
| A. | Taxable as per slabs |
| B. | Exempted from slab |
| C. | Partly exempted |
| D. | None of the above |
| Answer» B. Exempted from slab | |
| 11. |
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 |
| Answer» B. Non-taxable | |
| 12. |
Amount of deduction in case of a person with severe disability under section 80U will be______________ . |
| A. | (a) 75,000 |
| B. | (b) 85,000 |
| C. | (c) 1,50,000 |
| D. | (d) 1,25,000 |
| Answer» E. | |