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Principles Of Income Tax Laws
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Principles Of Income Tax Laws
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25 Questions

1. Assessment year is the period of 12 months commencing from ……………. Every year
2. Income exempted from tax are stated in the section……. Of Income Tax Act.
3. Income of business commenced on 1st March, 2019 will be assessed in assessment year
4. Amendments by the finance act are made applicable from
5. If an assesses earns rent from a sub-tenant in respect to tenanted property let out as a residence, the said rent is ………………….
6. High Court's precedents are not binding on
7. Income is divided in ___________ heads of Income.
8. Assessment year can be a period of :
9. Payment made by an employer to employee monthly, other than salary is called ………….
10. Which amongst the following is Artificial Juridical Person?
11. Out of the following, which of the capital receipt is not taxable:
12. Under the Income Tax Act,1961, depreciation on machinery is charged on ………………..
13. Compensation on account of loss of profit is –
14. Under the head Income from House Property the basis of charge is ………………………
15. A new business was set-up on 1st July, 2018 and trading activity was commenced from 1st September, 2018, the previous year would be the period commencing from
16. The salary, remuneration or compensation received by the partners is taxable under the head ………………………….
17. Which of the following is not a case of deemed ownership of house property?
18. 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 ………………..
19. Expenditure incurred on exempted income is …………. as deduction.
20. Residential Status of an assesses can be …………………………..
21. Salary received by the manager of an agricultural farm is .................................
22. The Gross annual value of the property is depends upon the ……………….
23. Entertainment allowance is allowed as a deduction as per section ……………
24. Income Tax Act came into force on…………
25. Income received in India is taxable in the hands of...........................

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