Question 1

Joint Commissioners are appointed by…………
A)central government
B)state government
C)district government
D)gram panchayat

Accepted Answer

Joint Commissioners are appointed by the central government, often in the context of administrative roles in various departments, including revenue, customs, and excise departments.

Question 2

ITR -5 is related to :
A)for individuals
B)for huf.
C)for firms, aops and bois.
D)for companies.

Accepted Answer

ITR-5 is used by individuals and HUFs to file their income tax returns.

Question 3

Tax refund has to be claimed within :
A)five years
B)same year
C)one year
D)next year

Accepted Answer

C

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

Accepted Answer

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

Accepted Answer

The amount of deduction in case of a person with severe disability under section 80U is Rs. 1,00,000.

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

Accepted Answer

Deductions under section 80C to 80U cannot exceed the gross total income, which is the total income before any deductions are applied.

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

Accepted Answer

Under section 40A(3) of the Income Tax Act, any expenditure in respect of which payment is made in a sum exceeding Rs. 10,000 otherwise than by an account payee cheque or account payee bank draft is disallowed. Since Rs. 45,000 is paid in cash, the entire amount is disallowed.

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

Accepted Answer

Rental income from the business of leasing out properties is taxable under the head "Income from Profits and Gains of Business or Profession" (PGBP) as it is considered a business activity.

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

Accepted Answer

The answer of As per Section 2(e a), which of...

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

Accepted Answer

Income Tax is levied on the total income of a person, which includes all the income sources before any deductions are applied.

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

Joint Commissioners are appointed by…………

ITR -5 is related to :

Tax refund has to be claimed within :

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

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

Deduction under section 80C to 80U cannot exceed:

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

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

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

Income Tax is levied on the ___________ of a person.