Income tax procedure pleading Book Keeping and Accountancy solved MCQs

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1. The Income Tax Act 1961 came into force with effect from……..

a. 1st april 1962

B. 1st april 1961

c. 31st march 1961

d. none of the above

2. Income Tax is charged in…….

a. financial year

B. assessment year

c. previous year

d. accounting year

3. CBDT is control by…….

a. central government

B. state government

c. both a and b

d. none of the above

4. Previous Year started from……

a. april

B. march

c. january

d. september

5. Income Tax is a……

a. business tax

B. profession tax

c. direct tax

d. indirect tax

6. Interest u/s 234B is payable by an Assesse due to the following reason……….

a. defaults in furnishing return of income

B. defaults in payable of advanced tax

c. defaults in installment of advanced tax

d. defaults due to non-deduction tax at source

7. In which of the following assessment procedure Assesse compute his taxable income as well as tax on it.......

a. best judgment assessment

B. reassessment

c. self-assessment

d. regular assessment

8. Tax is _ _ _ _ _ _ _ _ at source by the seller from the buyer at the time of debiting the amount account of the buyer or the receipt of payment whichever is earlier.

a. deducted

B. deposited

c. payable

d. collected

9. Amount of advance tax paid on due date on or before December 15th by assessee is

a. 75% of advance tax payable

B. 30% of advance tax payable

c. 10% of advance tax payable

d. 5% of advance tax payable

10. If recipient of income fails to furnish his Permanent Account Number to deduct of tax the tax shall be deducted

a. at the rate specified in the relevant section

B. at the rate or rates in forces

c. at the rate of 20%

d. higher of the above rate

11. The period of 12 months commencing on the first day of April every year and ending on 31st March is called as_ _ _ _ _

a. previous year

B. assessment year

c. accounting year

d. financial year

12. The highest Administration Authority for Income Tax in India is_ _ _ _ _

a. finance minister

B. cbdt

c. president of india

d. director of income tax

13. The number allotted by income tax authorities to assessees for identification and which should be quoted in all documents and correspondences is_ _ _ _ _ _


B. register no.

c. permanent account number(pan)

d. licence no.

14. Deduction of tax at source made for incomes which can be calculated in advance is called_ _ _ _ .

a. t.d.s.

B. p.a.s

c. f.a.s

d. m.a.s.

15. Due date of filing of return by a non-business assesse is _ _ _ _

a. 30th june

B. 31st october

c. 31st july

d. 30th november

16. The agreement among the partners is called _ _ _ _

a. partnership deed

B. partnership by laws

c. partnership constitution

d. none of the above

17. Assertion
(A) an Assessee can pay his tax on the basis of his self-assessment
(R) Reason (R) to 2% to 3% returns are went for scrutiny for the detailed checking of self-assessment returns.

a. both (a) and (r) are true

B. only (a) is true

c. only (r) is true

d. only (a) is true and (r) false

18. The application for PAN is made in_ _ _ _

a. form 49(b)

B. form 49(a)

c. form 49(c)

d. form 51(a)

19. The scheme of advance tax is commonly known as:

a. pay as much as you

B. earn more pay more

c. pay as you earn

d. a step to words, national building

20. In case of salary, TDS certificate is issued in form?

a. form 16

B. form 16 a

c. form 15

d. form 15 h

21. Form 16 is issued by the employer?

a. annually

B. quarterly

c. half yearly

d. monthly

22. SUGAM is also known as

a. itr-1

B. itr-2

c. itr-3

d. itr-4

23. Under which of the following categories partner of partnership firm will be assessed

a. an individual

B. huf

c. firm

d. body of individual

24. Sahaj form is also known as......

a. itr 1

B. itr 2

c. itr 3

d. itr 4

25. First appeal always file by......

a. appellate tribunal

B. commissioner

c. assessee

d. itat


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