Heads of Income MCQ | 50 Free MCQs
Heads of Income MCQ
1. Expenses incurred by an assesses in relation to exempt income are ………….. u/s 14 A of the Income tax Act, 1961.
a) Not deductable
b) deductable
c) None of the above
2. The total of 5 heads of income given u/s 14 is called as ………….
a) Net total Income
b) Gross total Income
c) None of the above
3. There are ………….. heads of income under income tax act, 1961.
a) Four
b) Six
c) five
d) None of the above
4. The Technique of computation of income chargeable to tax depends upon the ………… of income.
a) Basis
b) classification
c) None of these
5. The total of 5 heads of income given u/s 14 is termed as …………….
a) Total Income
b) Gross Total Income
c) Net Total Income
d) None of the above
6. Provisions applicable under each head of income are …………….
a) Same
b) Similar
c) Different
d) None of the above
| Answers: 1)Not deductable 2)Gross total Income 3)five 4)classification 5)Gross Total Income 6)Different |
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