Q401
Open questionA company sold a residential house. Under which Section, the company can get exemption on long-term capital gains?
Select an option to see the answer and solution.
Commerce · all questionsIncome Tax and Corporate Tax
Income Tax and Corporate Tax
practice.
Practice every MCQ with options. Use Show answers when you want the correct option and solution.
816
Questions
21/41
Page
Pick an option on a question to see the right answer and solution.
Q402
Open questionA very senior citizen for income tax is a person whose age is more than the following-
Select an option to see the answer and solution.
Q403
Open questionWhat is the time limit for filing revised return at present year?
Select an option to see the answer and solution.
Q404
Open questionNon agricultural income includes-
Select an option to see the answer and solution.
Q405
Open questionAn educational institution whose object is not to make profit under which section the income is exempt from tax?
Select an option to see the answer and solution.
Q406
Open questionMr. Varma contributed to a political party; he can avail deduction under:
Select an option to see the answer and solution.
Q407
Open questionWhich of the following statement/s is/are correct?
Select an option to see the answer and solution.
Q408
Open questionWhich income is tax free?
Select an option to see the answer and solution.
Q409
Open questionRent received by original tenant from sub-tenant is taxable under the head:
Select an option to see the answer and solution.
Q410
Open questionFrom FY 2020-21, a citizen of India or a person of Indian origin who leaves India for employment outside India during the year will be a resident and ordinarily resident if he stays in India for an aggregate period of:
Select an option to see the answer and solution.
Q411
Open questionWhich of the following double taxation avoidance agreement (DTAA)emphasizes on residence principle?
Select an option to see the answer and solution.
Q412
Open questionWhich is the most useful method for setting a transfer price when very little value is added by the company that sells the product outside the group?
Select an option to see the answer and solution.
Q413
Open questionPaying guest's accommodation is chargeable under
Select an option to see the answer and solution.
Q414
Open questionAccording to Section 80G, donations made to, which of the following are eligible for 100% deduction without any qualifying limit?
1. National Defence Fund set-up by the Central Government
2. Prime Minister's National Relief Fund
3. Prime Minister's Armenia Earthquake Relief Fund
4. Africa (Public Contributions-India) Fund
5. National Foundation for Communal Harmony
6. Prime Minister's Drought Relief Fund
7. National Children's Fund
8. Indira Gandhi Memorial Trust
Select the correct answer using the options given below
1. National Defence Fund set-up by the Central Government
2. Prime Minister's National Relief Fund
3. Prime Minister's Armenia Earthquake Relief Fund
4. Africa (Public Contributions-India) Fund
5. National Foundation for Communal Harmony
6. Prime Minister's Drought Relief Fund
7. National Children's Fund
8. Indira Gandhi Memorial Trust
Select the correct answer using the options given below
Select an option to see the answer and solution.
Q415
Open questionThe replacement may be of
Select an option to see the answer and solution.
Q416
Open questionWhich of the following statement/s is/are true in context of Advance Ruling?
Select an option to see the answer and solution.
Q417
Open questionTax . . . . . . . . is not valid.
Select an option to see the answer and solution.
Q418
Open questionThe meaning of exempted income is:
Select an option to see the answer and solution.
Q419
Open questionA person is liable to pay interest, if advance tax paid by him is less than
Select an option to see the answer and solution.
Q420
Open questionTo which of the following assessees, ITR- 1 (SAHAJ) is applicable to:
Select an option to see the answer and solution.