Direct Tax Practice Test
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Direct Tax Practice Test
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25 Questions

1. Which of the following is taxable in the hands of specified employee only?
2. Value of the car, when car is provided to an employee for official purpose and expenditure is incurred by employer is
3. Share of listed company, which is held by an assessee for more than _________ months known as short term capital assets.
4. _________ of pre-construction period interest is allowed as deduction u/s 24.
5. Due date of filing of return by company assessee is____.
6. In case of residential status of HUF, firm, AOP and EOP if control and management are wholly outside India, they are deemed as.
7. Under section 80E deduction out of total income is
8. What is the exemption limit for children education allowance?
9. A weighted deduction of ______ % is allowed under sec. 35(2AA) in respect of contribution to National Laboratory.
10. Which one of the following is/ are features of income tax?
11. Allowances of MP/M.L.A / or M.L.C are.
12. If individual shares of partners of AOP/BOI are unknown, tax is charged on the total income of AOP/BOI at the Maximum Marginal rate of.
13. Income Tax Authorities are grouped into two main wings Administrative and.
14. Deductions out of net annual value is dealt in sec.c _______.
15. Deduction under 80G is allowed to _______.
16. Share of profits from PFAF of a partner is.
17. Loss under the head house property can be carry forward to
18. Apart from the Individual, Who will have three residential status?
19. Entertainment allowance is fully taxable allowance to _________.
20. Which one of the following is not general income u/s 56(1)?
21. For tax deducted at source, employer issues to employee.
22. What is maximum limit of deduction u/s 80D for senior citizen?
23. Deduction in respect of expenditure on advertisements through articles intended for presentation will be allowed on the value of each article up to a limit of.
24. Deductions under section 80C is allowable for
25. Agriculture Income is __________

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