Income Tax And Corporate Tax - Practice Test

[#256] Gratuity received by a government employee is

(A) Exempted upto Rs. 3,50,000

(B) Exempted upto Rs. 10,00,000

(C) Fully exempted

(D) Fully taxable

(E) exempted upto Rs. 3,50,000

(F) exempted upto Rs. 10,00,000

(G) fully exempted

(H) fully taxable

Correct Answer

(C) Fully exempted
(G) fully exempted

[#257] Compulsory audit of account books is covered

(A) Section 10

(B) Section 44AB

(C) Section 21

(D) Section 21AA

Correct Answer

(B) Section 44AB

[#258] Under Section 15 of Income Tax Act, the salary due in previous years and even if it is not received is:

(A) Taxable

(B) Not taxable

(C) Partially taxable

(D) None of the above

Correct Answer

(A) Taxable

[#259] The time to rectify the defect in return given by assessing officer, after given intimation of such defect by him is

(A) 10 days

(B) 15 days

(C) 20 days

(D) 1 month

Correct Answer

(B) 15 days

[#260] Match List-I with List-II : List-I List-II a. 80TTA 1. Deduction in respect of payment of interest on loan taken for higher education b. 80CCD 2. Deduction in respect of interest on loan taken for respect of interest on loan taken for residential house property c. 80E 3. Deduction in respect of interest on deposits in savings account d. 80EE 4. Deduction in respect of contribution to national pension system

(A) a-3, b-4, c-1, d-2

(B) a-3, b-4, c-2, d-1

(C) a-3, b-1, c-2, d-4

(D) a-1, b-2, c-3, d-4

Correct Answer

(A) a-3, b-4, c-1, d-2

Income Tax And Corporate Tax - Study Mode

[#256] Gratuity received by a government employee is

Correct Answer

[#257] Compulsory audit of account books is covered

Correct Answer

[#258] Under Section 15 of Income Tax Act, the salary due in previous years and even if it is not received is:

Correct Answer

[#259] The time to rectify the defect in return given by assessing officer, after given intimation of such defect by him is

Correct Answer

Correct Answer