Income Tax Objective Questions And Answers Pdf

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public finance and taxation questions and answers pdf

Match the descriptions to their correct terms by choosing from the drop-down menu. Continue to Part 2 or, to assess your answers, click the Check My Answers button at the bottom of the page. Indicate whether each of the statements below is True or False by clicking on the correct answer.

Continue to Part 3 or, to assess your answers, click the Check My Answers button at the bottom of the page. Answer the following multiple-choice questions by clicking on the correct answer. To assess your answers, click the Check My Answers button at the bottom of the page. Personal income tax is paid by this type of income earner Choose the correct answer A. A direct tax cannot be shifted to another.

True B. False Individual income tax is an example of a direct tax. False To recover business taxes, an owner cannot pass along the charges. False Consumers often pay some or all business taxes when they purchase goods and services. False Ultimately, only a business owner pays the cost of business property tax. Sales tax can be classified as what?

public finance and taxation questions and answers pdf

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The highest Administrative Authority for Income Tax in India is A) Finance A) Remuneration paid to the lecturer of a college for setting a question paper. B​) Salary received by B) Remuneration received for valuation of answer scripts.


Income Tax MCQs 2020-21 | Income Tax Laws and Practice MCQs | Objective Questions and Answers

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Surcharge of 10 per cent is payable by an individual where the total income exceeds: a Rs. Family pension received by a widow of a member of the armed forces where the death of the member has occurred in the course of the operational duties, is a Exempt up to Rs. In respect of shares held as investment, while computing the capital gains, securities transaction tax paid in respect of sale of listed shares sold in a recognized stock exchange, a Is deductible up to Rs.

Public Finance Harvey S. Rosen 10 3. You sure need to pass this exam, and believe me, you will. Income Tax Question Papers - Get the complete details about Income tax inspector job, exam pattern, syllabus and previous year question paper in PDf format with answers. Principle of certainty: C. Principle of secrecy: D.

Surcharge of 10 per cent is payable by an individual where the total income exceeds: a Rs. Family pension received by a widow of a member of the armed forces where the death of the member has occurred in the course of the operational duties, is a Exempt up to Rs. In respect of shares held as investment, while computing the capital gains, securities transaction tax paid in respect of sale of listed shares sold in a recognized stock exchange, a Is deductible up to Rs. Gift of Rs 5,00, received on 10 July, through account payee cheque from a non-relative regularly assessed to income-tax, is a A capital receipt not chargeable to tax b Chargeable as other sources c Chargeable to tax as business income d Exempt up to Rs. For an employee in receipt of hostel expenditure allowance for his three children, the maximum annual allowance exempt under section 10 14 is a Rs. For an industrial undertaking fulfilling the conditions, additional depreciation in respect of a machinery costing Rs.

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Circular Flow of Income: It is a model of the economy in which the major exchanges are represented as flows of money, services and goods, etc. Goods and services. Once you have completed the test, click on 'Submit Answers for Grading' to get your results. A comprehensive database of income quizzes online, test your knowledge with income quiz questions. Multiple choice questions Try the multiple choice questions below to test your knowledge of this chapter. According to a simple circular-flow diagram, households and firms interact in [1] Only the goods market [2] Only the factor market [3] Both the factor and goods markets [4] Households and firms do not interact 2. Circular Flow of income the topic chapter-1 will also be discussed during the session Economics objective questions and answers covering each topic and helpful for interview, entry test and competitive examination.

In this page you get income tax objective types questions with answers which are asked in various exams of Dibrugarh University, Gauhati University and Assam University. Table of Contents. The first previous year in this case shall be

4 Response
  1. Marta C.

    K2 LEVEL. SHORT ANSWERS. 1. Define Tax. A tax is a mandatory financial charge or some other type of levy imposed upon a taxpayer. (an.

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