MCQ for CA Intermediate TAXATION - Chapter 8 - COMPUTATION OF TOTAL INCOME AND TAX PAYABLE

Sample Multiple Choice Questions (MCQ's) for CA Intermediate - Paper 4 - TAXATION Chapter 8: COMPUTATION OF TOTAL INCOME AND TAX PAYABLE - For Practice relevant for May/November 23 Examinations

Q:1 Rebate in Tax u/s 87A, is applicable to          

  1. Companies
  2. Individuals
  3. HUF
  4. Resident individual

Answer: 4

Q:2 Relief u/s 89 can be claimed for-     

  1. Arrears of Salary
  2. Advance Salary
  3. Arrears of Family Pension
  4. All of the above

Answer: 4

Q:3 Agricultural Income is exempt provided the-            

  1. Land is situated in India
  2. Land is situated in any rural area in India
  3. Land is situated whether in India or outside India.

Answer: 1

Q:4 An Assessee is engaged in the business of growing and manufacturing of rubber, the agricultural income in that case shall be -

  1. 40% of the income from such business
  2. 60% of the income from such business
  3. 65% of the income from such business

Answer: 3

Q:5 If an Assessee uses the agricultural produce grown by him for his own consumption then -

  1. Market Value of such agricultural produce shall be treated as his Agricultural Income (Al)
  2. Market Value of such agricultural produce minus the cost of cultivation shall be treated as his Al
  3. Nothing shall be treated as his Al.

Answer: 2

Q:6 If a Company declares dividend out of Agricultural Income, such dividend declared by the Company shall be -

  1. Exempt in the hands of the Shareholder
  2. Not be subject to any Income Tax, either in the hands of Company or the shareholder
  3. Included in the Total Income of the Company
  4. Exempt in the hands of the Shareholder but dividend tax will be payable by the Company

Answer: 4

Q:7 Income derived from rubber plantation in Singapore but received in India shall be treated as -

  1. Agricultural Income and hence exempt
  2. Not an Agricultural Income and taxable under the head "Income from Other Sources".
  3. Exempt as earned outside India.

Answer: 2

CA Intermediate TAXATION - MCQ for Chapter 9 -   

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