PRINCIPLES OF INCOME TAX LAWS
MCQ
LLB III AND BSL V
1. The Central Government has been empowered by entry ________________ of the Union list of
schedule VII of the constitution of India to levy tax on income other than agricultural income.
A. 84
B. 82
C. 81
D. 85
2. The Income tax act, 1961 came into force w.e.f........ __________ _
A. Is' April, 1962
B. 31st March, 1961
C. 1st April, 1961
D. None of above
3. Amongst the following _________________ is empowered to levy tax on agricultural income.
A. Central Government
B. State Government
C. Commissioner
D. President
4. Circulars and Notifications are binding on the
A. Central Board of Direct Taxes (CBDT)
B. Assessee
C. Income Tax Appellate Tribunal (ITAT)
,D. Income Tax Authorities
5. Supreme Courts precedent in binding on
A. Courts
B. Appellate Tribunals
C. Income Tax Authorities
D. All of the above.
6. High Court's precedents are not binding on
A. Tribunal
B. Income Tax Authorities
C. Assessee
D. None of the above.
7. Wherever in the Act the phrase as prescribed appears it means that –
A. Regulations are to be framed is in this respect.
B. Rules have been framed in this respect.
C. Regulations were earlier framed in this respect.
D. Regulations are framed in this respect.
8. Who amongst the following confers on the power to issue circulars and clarifications?
A. ITAT
B. Central Government
C. CBDT
D. State Government
, 9. Amendments by the finance act are made applicable from
A. First day of next financial year
B. First day of same financial year
C. Last day of same Accounting year
D. None of the above.
10. Income Tax is charged in –
A. Financial Year
B. Assessment Year
C. Previous Year
D. Accounting Year
11. A person includes:
A. Only Individual
B. Only Individual and HUF
C. Individuals, HUF, Firm, Company only
D. Individuals, HUF, Company, Firm, AOP or BOI,Local Authority, Every Artificial Juridical Person
12. As per section 2(31), the following is not included in the definition of 'person'
A. An individual
B. A Hindu undivided family
C. A company
D. A minor
13. Every assessee is a person, and –
MCQ
LLB III AND BSL V
1. The Central Government has been empowered by entry ________________ of the Union list of
schedule VII of the constitution of India to levy tax on income other than agricultural income.
A. 84
B. 82
C. 81
D. 85
2. The Income tax act, 1961 came into force w.e.f........ __________ _
A. Is' April, 1962
B. 31st March, 1961
C. 1st April, 1961
D. None of above
3. Amongst the following _________________ is empowered to levy tax on agricultural income.
A. Central Government
B. State Government
C. Commissioner
D. President
4. Circulars and Notifications are binding on the
A. Central Board of Direct Taxes (CBDT)
B. Assessee
C. Income Tax Appellate Tribunal (ITAT)
,D. Income Tax Authorities
5. Supreme Courts precedent in binding on
A. Courts
B. Appellate Tribunals
C. Income Tax Authorities
D. All of the above.
6. High Court's precedents are not binding on
A. Tribunal
B. Income Tax Authorities
C. Assessee
D. None of the above.
7. Wherever in the Act the phrase as prescribed appears it means that –
A. Regulations are to be framed is in this respect.
B. Rules have been framed in this respect.
C. Regulations were earlier framed in this respect.
D. Regulations are framed in this respect.
8. Who amongst the following confers on the power to issue circulars and clarifications?
A. ITAT
B. Central Government
C. CBDT
D. State Government
, 9. Amendments by the finance act are made applicable from
A. First day of next financial year
B. First day of same financial year
C. Last day of same Accounting year
D. None of the above.
10. Income Tax is charged in –
A. Financial Year
B. Assessment Year
C. Previous Year
D. Accounting Year
11. A person includes:
A. Only Individual
B. Only Individual and HUF
C. Individuals, HUF, Firm, Company only
D. Individuals, HUF, Company, Firm, AOP or BOI,Local Authority, Every Artificial Juridical Person
12. As per section 2(31), the following is not included in the definition of 'person'
A. An individual
B. A Hindu undivided family
C. A company
D. A minor
13. Every assessee is a person, and –
