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 –

  1. whole of India
  2. whole of India except Jammu Kashmir
  3. whole of India except Sikkim
  4. option(a)except Jammu & Kashmir and Sikkim

Answer: 1

Q:2 Finance Bill becomes Finance Act when it is passed by

  1. the Lok Sabha
  2. both Lok Sabha and Rajya Sabha
  3. both Houses of Parliament and given the assent of the President
  4. Rajya Sabha

Answer: 3

Q:3 Assessee is always a person but a person may or may not be an assessee.

  1. True
  2. False

Answer: 1

Q:4 Person u/s 2(31) does not include

  1. Minor
  2. Local Authority
  3. Unsound Person
  4. 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 -

  1. Exceeds ₹ 5,00,000
  2. Exceeds ₹ 2,50,000
  3. Exceeds ₹ 10,00,000
  4. 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 -

  1. ₹ 2,53,500
  2. ₹ 2,53,490
  3. ₹ 2,53,495
  4. ₹ 2,53,400

Answer: 1

Q:7 The maximum amount on which Income-Tax is not chargeable in case of Firm is -

  1. ₹ 2,50,000
  2. ₹ 5,00,000
  3. ₹ 90,000
  4. Nil

Answer: 4

CA Intermediate TAXATION - MCQ for Chapter 2 -   

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