MCQ for CA Intermediate TAXATION - Chapter 1 - BASIC CONCEPTS
Sample Multiple Choice Questions (MCQ's) for CA Intermediate - Paper 4 - TAXATION - Chapter 1: BASIC CONCEPTS - For Practice relevant for May/November 23 Examinations
Q:1 Income-Tax Act extends to –
- whole of India
- whole of India except Jammu Kashmir
- whole of India except Sikkim
- option(a)except Jammu & Kashmir and Sikkim
Answer: 1
Q:2 Finance Bill becomes Finance Act when it is passed by
- the Lok Sabha
- both Lok Sabha and Rajya Sabha
- both Houses of Parliament and given the assent of the President
- Rajya Sabha
Answer: 3
Q:3 Assessee is always a person but a person may or may not be an assessee.
- True
- False
Answer: 1
Q:4 Person u/s 2(31) does not include
- Minor
- Local Authority
- Unsound Person
- None of the above
Answer: 4
Q:5 In case of an Individual and HUF, Health and Education Cess is leviable only when the Total Income of such assessee -
- Exceeds ₹ 5,00,000
- Exceeds ₹ 2,50,000
- Exceeds ₹ 10,00,000
- No income limit
Answer: 4
Q:6 The Total Income of the assessee has been computed as ₹ 2,53,494.90. For rounding off, the Total Income will be taken as -
- ₹ 2,53,500
- ₹ 2,53,490
- ₹ 2,53,495
- ₹ 2,53,400
Answer: 1
Q:7 The maximum amount on which Income-Tax is not chargeable in case of Firm is -
- ₹ 2,50,000
- ₹ 5,00,000
- ₹ 90,000
- Nil
Answer: 4
CA Intermediate TAXATION - MCQ for Chapter 2 -
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