Income Tax Government Free Certificate

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Hi everyone so here you will get free *”Online Quiz on Income Tax Awareness” by Department of Commerce Govt. Girls College Dhar (M.P.)* This Quiz is designed to help you assess your knowledge .This is also a useful resource for employers to examine the knowledge of the candidates during an interview or for applicants who want to analyse their Income Tax knowledge .If you pass this test with 80% or above (16 questions or more), it is likely that you have pretty solid fundamental knowledge of Income & Taxation.

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Here are the Questions and Answers:

Question 1: Income Tax Act was passed in the year *

• 1956
• 1934
• 1961
• 1936

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Question 1: Income tax rates are fixed in *

• Income tax Act
• Finance Act
• Income tax rules
• Finance rules

Question 2: As per Income tax Act, Person includes *

• Individual
• HUF
• Local Authority
• All of the above

Question 3: Salary is defied as per section *

• 15(2)
• 16(1)
• 17(2)
• 17(1)

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Question 1: Agricultural income in Pakistan is assessable for *

• Not Ordinarily Resident
• Non-resident
• Resident
• Not taxable

Question 2: Pension is taxable under ……………………..head *

• House property
• other sources
• Salary
• Capital gains

Question 3: Circulars and Notifications are binding on the *

• Central Board of Direct Taxes (CBDT)
• Assessee
• Income Tax Appellate Tribunal (ITAT)
• Income Tax Authorities

Question 4: The following shall not be regarded as capital asset *

• Jewelry
• Rural Agricultural land
• Archaeological Collections
• Personal residential house

Question 5: Long-term Capital Loss can only be set off against *

• Long-term capital loss
• Short-term capital loss
• Long-term capital gain
• All of the above

National Level Certificate on General Knowledge and Awareness

Question 1: Payment of LIC premium can be claimed as deduction u/s _. *

• 80 C
• 80CCC
• 80D
• 80DD

Question 2: Rate of Health & Education cess is _. *

• 2%
• 4%
• 3%
• 5%

Question 3: The highest Administrative Authority for Income Tax in India is………… *

• Finance Minister.
• CBDT
• prime Minister
• Income tax inspector

Question 4: PAN stand for: *

• Private Bank Number
• Permanent Account Number
• Personal Account Number
• Passive Account Number

Question 5: Donation is deductible u/s ……………… *

• 80G
• 80C
• 80TTA
• 80 GG

Question 6: Income tax is a form of ……………………..tax *

• Direct tax
• Indirect tax
• Value Added Tax
• None of these

Question 7: Income of a minor child is exempted up to *

• 1000
• 1500
• 2000
• 1200

Question 8: Section 80C provides for deduction in respect of tuition fee to …………………..children. *

• One
• Two
• Three
• None

Question 9: When a receipt is determined as Capital Receipt or Revenue receipt. *

• At the time it is received
• While preparing final accounts.
• When the received amount is used.
• None of the above

Question 10: Salary received by a member of parliament is. *

• Taxable as salary income
• Exempt from tax sources.
• Taxable as income from other sources.
• None of these.

Question 11: Maximum deduction under section 80C is Rs: *

• 150000
• 200000
• 250000
• 500000