Art, Commerce & Science College Bodawad
Internal Examination
Sub -Income Tax
Class-Ty Bcom. MCQ-100
Total Marks- 100
1. The Income tax Act extends to
a) Whole of india
b) Whole of India except Jammu & Kashamir
c) Whole of India except Sikkim
d) Whole of India except jammu & kashamir & Sikkim
2.Every year a Budget is presented before the parliament by
a) Prime Minister
b) Finance Minister
c) State Minister
d) Education Minister
3.Following are two sentences, find out correct sentence
1.Income tax is one of the form of Direct Taxes
2.This tax is Levi able and collected under Income -tax Act, 1961
a) Only 1
b) Both1&2
C)Only'2
d) Both wrong sentence
4.CBDT stands for..
a) Chief board of Direct Taxes
b) Central board of Direct taxes
c) Central board of Duplicate taxes
d) None of the above
5.Circulars issued by CBDT are binding on
(a) Assessee
(b) Income TaxAuthority
(c) Both of above
(d) None of the above
6. Circulars are issued by the CBDT to--
the scope & meaning of the provisions of Law.
(a) Clarify the doubts
(b) Exceptions
(c) Proper Administration
, (d) None of these
7. As per Section 2(7),“Assesses” means ---a person
(a) By whom any tax or other sum of money is payable
(b) Against whom proceeding has been taken under the act
(c) A person deemed to be assessee in default
(d) All of the above
8.A person includes--
(a) Individual & HUF
(b) Firm & Company
(c) AOP/BOI, LA, Every AJP
(d) All of the above.
9. A municipal corporation legally entitled to manage & control a municipal fund is taxable in the
status of :
(a) Individual
(b) AOP
(c) LA
(d) AJP
10. ‘Income’ includes the following types
(a) Legal
(b) Illegal
(c) Both
(d) None
11. Finance Bill becomes the Finance Act when it is passed by...
(a) Lok Sabha
(b) Both Lok Sabha & Rajya Sabha
(c) Both House of Parliament & signed by President.
(d) Both House of Parliament & signed by Prime Minister.
12.Assessment Year is the period of 12 month commencing on 1st day of .
(a) April every year
(b) December every year
(c) July every year
(d) January every year
13.Pick-the correct one.
(a) AY & PY are same concepts.
(b) AY is the year next to the PY.
(c) PY is the year next to the AY.
Internal Examination
Sub -Income Tax
Class-Ty Bcom. MCQ-100
Total Marks- 100
1. The Income tax Act extends to
a) Whole of india
b) Whole of India except Jammu & Kashamir
c) Whole of India except Sikkim
d) Whole of India except jammu & kashamir & Sikkim
2.Every year a Budget is presented before the parliament by
a) Prime Minister
b) Finance Minister
c) State Minister
d) Education Minister
3.Following are two sentences, find out correct sentence
1.Income tax is one of the form of Direct Taxes
2.This tax is Levi able and collected under Income -tax Act, 1961
a) Only 1
b) Both1&2
C)Only'2
d) Both wrong sentence
4.CBDT stands for..
a) Chief board of Direct Taxes
b) Central board of Direct taxes
c) Central board of Duplicate taxes
d) None of the above
5.Circulars issued by CBDT are binding on
(a) Assessee
(b) Income TaxAuthority
(c) Both of above
(d) None of the above
6. Circulars are issued by the CBDT to--
the scope & meaning of the provisions of Law.
(a) Clarify the doubts
(b) Exceptions
(c) Proper Administration
, (d) None of these
7. As per Section 2(7),“Assesses” means ---a person
(a) By whom any tax or other sum of money is payable
(b) Against whom proceeding has been taken under the act
(c) A person deemed to be assessee in default
(d) All of the above
8.A person includes--
(a) Individual & HUF
(b) Firm & Company
(c) AOP/BOI, LA, Every AJP
(d) All of the above.
9. A municipal corporation legally entitled to manage & control a municipal fund is taxable in the
status of :
(a) Individual
(b) AOP
(c) LA
(d) AJP
10. ‘Income’ includes the following types
(a) Legal
(b) Illegal
(c) Both
(d) None
11. Finance Bill becomes the Finance Act when it is passed by...
(a) Lok Sabha
(b) Both Lok Sabha & Rajya Sabha
(c) Both House of Parliament & signed by President.
(d) Both House of Parliament & signed by Prime Minister.
12.Assessment Year is the period of 12 month commencing on 1st day of .
(a) April every year
(b) December every year
(c) July every year
(d) January every year
13.Pick-the correct one.
(a) AY & PY are same concepts.
(b) AY is the year next to the PY.
(c) PY is the year next to the AY.
