Basic Concepts of Income Tax MCQ | 50 Free MCQs
21. The term H.U.F. stands for:
a) Hindu divided family
b) Human undivided family
c) Hindu undivided family
d) Human divided family
22. Residential has nothing to do with:
a) Constitution
b) Citizenship
c) Censorship
d) Change
23. A.O.P. is the abbreviation used for:
a) Association of persons
b) Association of professors
c) Association of Panchayats
d) Associate of person
24. A.O.P. should consist of:
a) Individual only
b) Persons other than individual only
c) Both of the above
d) None of the above
25. Body of individual should consist of :
a) Individual only
b) Persons other than individual only
c) Both of the above
d) None of the above
26. Residential status of an individual depends on the stay of the assesses in India during the:
a) Calendar year
b) Accounting year
c) Assessment year
d) Previous year
27. A person by whom any tax is payable under Income Tax Act 1961 is called as:
a) Individual
b) Tax Receiver
c) Assessee
d) None of the above
28. The financial year in which the income is earned is called as the:
a) Assessment year
b) Present year
c) Previous year
d) Current year
29. An company is always resident in India:
a) Industrial
b) Individual
c) Indian
d) Investment
30. Income Tax Act extends to:
a) Whole of India
b) Whole of India except Jammu & Kashmir
c) India and Sri Lanka
d) None of these
| Answer: 21)Hindu undivided family 22)Citizenship 23)Association of persons 24)Both of the above 25)Individual only 26)Previous year 27)Assessee 28)Previous year 29)Indian 30)Whole of India |
