JOIN ADRE 2.0 Telegram Group

Multiple Choice Questions and Answers on Income Tax Rate & Basic Concept of Income Tax | Income Tax Rate & Basic Concept of Income Tax MCQs

Questions
1 Under Income Tax Act partnership firm includes -
A Limited liability partnership
B Limited liability company
C One person company
D Association of person

Answer:Limited liability partnership
2 A.O.P should consist of :
A Individual only
B Persons other than individual only
C Both individual and non individual persons.
D None of these

Answer:Both individual and non individual persons.
Advertisement
Article and Schedule Quiz Start Test!

DOWNLOAD CURRENT AFFAIRS PDF FROM APP

3 Body of individual should consist of :
A Individual only
B Persons other than individual only
C Both individual and non individual persons.
D None of these

Answer:Individual only
4 A person becomes a member of HUF by -
A Contract
B Agreement
C Popularity
D Status

Answer:Status
5 In order to be assessed as HUF there should be -
A Partnership
B Co-Partnership
C Co -Parcenership
D Co-Ownership

Answer:Co -Parcenership
6 Section __ of the Income-tax Act, 1961 defines the term 'person' -
A 4
B 2(31)
C 5
D 2(32)

Answer:2(31)
7 --------------must be one in which two or more persons join in for a common purpose or common action with the object of earning income or profits or gains.
A Partnership
B Co-ownership
C Body of Individuals
D Association of Persons

Answer:Association of Persons
8 Which amongst the following is Artificial Juridical Person?
A Corporation
B Local Fund
C District Board
D None of these

Answer:Corporation
9 Previous year is defined in -
A Section 2(34)
B Section 2(9)
C Section 3
D Section 4

Answer: Section 3
10 Financial year means a year commencing on –
A 31st March of the period
B 1" day of the April
C Mid of the year
D None of these

Answer:1" day of the April

ADRE 2.0 FULL LENGTH MOCK TEST

Take Mock Tests

Missiles Mock Test Start Test!
SSC MTS Mock Test Start Test
IBPS CLERK MOCK TEST Start Test
SSC MTS 2022 JULY 26 Shift 1 (ENGLISH) Start Test!
SSC GD Previous Year Paper 2021 Nov 17 Shift - I (Hindi) Start Test!
SSC CGL Tier - 1 PYP 2022 April 21 Shift- 1 (ENGLISH) Start Test!
MPSC PAPER I MOCK TEST 1 (ENGLISH) Start Test!
IB Security Assistant Mock test 1 (english) Start Test!
UP POLICE CONSTABLE MOCK TEST 1 Start Test!
DELHI POLICE CONSTABLE MOCK TEST 1 (HINDI) Start Test!
Advertisement
Assam Direct Recruitment Test Series