Questions
1
An assessee, being an individual resident in India, is entitled to a deduction, from the amount of income-tax on his total income which is chargeable for an assessment year, of an amount equal to 100 of such income-tax or a lesser amount. The maximum amount of total income qualifying for such deduction and the maximum amount of deduction so available is
Answer:Rs.` 3.5 lakh and Rs. 2,500 respectively
2
Calculate Income-tax payable by an Individual (aged 30 years) for AY 2019-20 if his total income is Rs. ` 1,01,20,000:
Answer:Rs. 33,42,300
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3
Calculate the amount of rebate u/s 87 A in case of a resident individual having total income of Rs.` 3, 00,000. For A.Y 2019-20
Answer:Rs.` 2,500
4
The income-tax payable by a XYZ Inc a foreign company on total income of Rs.` 12,25,500 will be :
Answer:Rs.` 5,09,800
5
The income-tax payable by a XYZ Cooperative society on total income of Rs.` 50,000 will be
Answer:Rs.` 12,480
6
Total income is to be rounded off to nearest multiple of __ and tax is to be rounded off to nearest multiple of
Answer:Ten, Ten
9
Short term capital gains arising on transfer of listed equity shares through recognized stock exchange are chargeable to Tax @ _____ _
Answer:15%
10
Income by way of dividends in excess of ` 10 lakh in the case of an individual, Hindu undivided family (HUF) or a firm who is resident in India is chargeable to tax at rate of -
Answer:10%
