Income Tax MCQs
1. Income Tax Act was passed in the year……….
A) 1934 B) 1956 C) 1961 D) 1972
2. Income Tax Act came into force on…………
A)1
st April 1935
B) 1
st April 1961
C) 1
st April 1962
D) 1
st April 1956
3. Income tax is a………………….
A) Professional tax B) Direct tax C) Indirect tax
D) Service tax
4. Income tax rates are fixed in……………..
A) Income tax Act B) Finance Act C) Income tax rules
D) Finance rules
5. There are …………… heads of income
A) 3 B) 4 C) 5 D) 2
6. 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
7. The minimum exceptional limit of income is……………….
A) 250,000 B) 200,000 C) 300,000 D) 500,000
8. Rebate of Income tax is defined as per section ……………..
A) 81A B) 87A C) 81C D) 87C
9. Section 2(9) of Income tax deals with…………..
A) Person B) Assessee C) Previous Year
D) Assessment Year
10. Assessment year is the period of 12 months commencing from ……………. Every
year.
A) 1st March B) 31st March C) 1st April D) 30
th April
11. When the income earned in an year is taxed in the same year, it is called
…………………..
A) Advanced Assessment B) Super Assessment
C) Accelerated Assessment D) None of the above