Income Tax - India
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Finance Specialization.

Income Tax - India
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25 Questions

1. The non-taxable income for the woman assessee is .................................
2. Rate of depreciation on residential building is.................
3. Allowances received by a government employee posted abroad are.............
4. Agricultural income in Pakistan is assessable for........................
5. If a depreciable asset is acquired and used for less than 180 days in a financial year, depreciation allowed on it is..............
6. Gifts from clients are...................
7. Scholarship granted is...................
8. Gratuity received by a government employee is .......................
9. In case of residential status of HUF ,firm and AOP if control and management are wholly outside India they are deemed as..................
10. A citizen of India who goes abroad for the purpose of employment, he must stay in India at least for............................. days to become a resident
11. The value of Interest free concessional loans to employees is determined on the basis of lending rates of ..................... for the same purpose.
12. Income accrued and received outside India is taxable in the hands of...........................
13. Profits earned from an illegal business are..........................
14. Speculation Loss can be carried forward for.................
15. Rate of T.D.S for unlisted securities, including cesses is.................
16. What are the exemption limit in Hostel Expenditure Allowance?
17. Donation on PM’s National Relief Fund is deductible 100% out of the gross total income of the assessee, under section ...................................
18. Any payments made under and awards instituted by central or state Governments are..............
19. Grossing up of interest on securities is required when...................
20. Exempted incomes are defined under section................
21. How many heads of income are there to compute Gross total income.
22. Deduction of tax at source made for incomes which can be calculated in advance is called.......
23. If S T T is paid, then LTCG tax on the transfer of listed equity shares is ....................
24. Medical reimbursement is exempt up to .................. if treatment is done in a private hospital.
25. Tax on long term capital gain is..................

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