Deck 6: Miscellaneous and Computation of Total Taxable Income of an Individual

Question 1

Joint Commissioners are appointed by…………

A)central government
B)state government
C)district government
D)gram panchayat

Answer 1

central government

Question 2

ITR -5 is related to :

A)for individuals
B)for huf.
C)for firms, aops and bois.
D)for companies.

Answer 2

for individuals

Question 3

Tax refund has to be claimed within :

A)five years
B)same year
C)one year
D)next year

Answer 3

one year

Question 4

In the absence of the individual assesses, return of income can be signed by …………………

A)legal heir
B)spouse.
C)any person.
D)authorized person

Question 5

Amount of deduction in case of a person with severe disability under section 80U will be:

A)rs. 50,000
B)rs. 75,000
C)rs. 1,00,000
D)rs. 1,50,000

Question 6

Deduction under section 80C to 80U cannot exceed:

A)gross total income
B)total income
C)income from business or profession
D)income from house property

Question 7

Payment of Rs. ` 45,000 made in cash towards purchases of medicines. The amount of disallowance under section 40A(3) is -

A)rs 45,000
B)rs 30,000
C)nil
D)rs 20,000

Question 8

Rental income from the business of leasing out properties would be taxable under the head_______

A)income from house property
B)income from other sources
C)income from pgbp
D)income from capital gain

Question 9

As per Section 2(e a), which of the following is an asset in case of an individual:

A)cash in hand up to rs. 50,000
B)shares
C)debentures or bonds
D)motor car used for official purposes

Question 10

Income Tax is levied on the ___________ of a person.

A)total income
B)total income-debt
C)gross total income
D)net income-debt perquisites