Residence and Scope of Total Income MCQ | 50 Free MCQs
Residence and Scope of Total Income MCQ
1. Income deemed to accrue or arise in India is taxable is case of:
a) Resident only
b) Both R & OR and R but NOR
c) Non-resident
d) All of the above
2. Income which accrues or arise outside India and is also received outside India is taxable in case of :
a) Resident only
b) Not ordinary resident only
c) Both R & OR and R but NOR
d) None of the above
3. Income which accrues outside India from a business controlled from India is taxable in case of :
a) Resident only
b) Not ordinary resident
c) Both R & OR and R but NOR
d) None of the above
4. Residential status is determined based on nos. of days stay in :
a) Previous year
b) Assessment year
c) Accounting year
d) None of these
5. Total Income of a person is determined on the basis of :
a) Residential status in India
b) Citizenship in India
c) None of the above
d) Both of the above
6. Infourge Ltd. is registered in London the control and management of its affairs are situated in India Infourge Ltd. shall be :
a) Resident only
b) Both ordinarily resident and NOR
c) Not ordinarily resident in India
d) None of the above
7. Incomes which accrue or arise outside India but are received directly into India are taxable for case of:
a) Resident only
b) Both ordinary resident and NOR
c) Non-resident
d) All the assesses
8. Success Ltd. is an Indian company whose entire control and management of its affairs is situated outside India success Ltd is :
a) Resident in India
b) Non-resident in India
c) Not ordinarily resident in India
d) None of these
9. Martin Crow a foreign national visited India during the previous year for 180 days. Earlier to this he never visited India. Martin Crow in this case shall be:
a) Resident in India
b) Non-resident
c) Not ordinarily resident in India
d) None of these
10. Residential status is to be determined for :
a) Previous year
b) Assessment year
c) Accounting year
d) None of these
| Answers: 1)All of the above 2)Resident only 3)Both R & OR and R but NOR 4)Previous year 5)Residential status in India 6)Resident only 7)All the assesses 8)Resident in India 9)Non-resident 10)Previous year |
11. Infaurge Ltd. Is an Indian company whose entire control and management of its affairs is situated outside India. Infaurge shall be:
a) Resident in India
b) Non-resident in India
c) Not ordinarily resident in India
d) None of these
12. Success Ltd. Is registered in the U.K. The control and management of its affairs is situated in India. Success Ltd. shall be :
a) Resident in India
b) Non-resident
c) Not ordinarily resident in India
d) None of these
13. Manoj a foreign national visited India during the previous year 2018-19 for 150 days. Earlier to this he never visited India. Manoj in this case shall be:
a) Resident in India
b) Non-resident
c) Not ordinarily resident in India
d) None of these
14. Raja a foreign national but a person of Indian origin visited India during previous year 2018-19 for 181 days. During 4 preceding previous years he was in India for 365 days. Raja shall be:
a) Resident in India
b) Non-resident in India
c) Not-ordinarily resident in India
d) None of the above
15. If an individual satisfies any of the basic conditions and satisfies only one additional condition, then also he shall be considered as ………………
a) R & OR
b) Non-Resident
c) R but NOR
d) None of the above
16. Special individuals would become non-resident if their stay in India during the previous year is ……………
a) Equal to 182 days
b) Less than 182 days
c) More than 182 days
d) None of the above
17. Dividend received from a foreign company in London, taxable in case of following individuals …………..
a) R & OR
b) R but NOR
c) Non-Resident
d) All of the above
18. Fees for technical services rendered in India but received in London, taxable in case of …………..
a) R but NOR
b) R & OR
c) Non-Resident
d) All of the above
19. In the case of the following individuals, global income is taxable ……………….
a) R & OR
b) R but NOR
c) NR
d) None of the above
20. Residential status of the assessee depends on the ……………. of the assessee in …………… during the previous year.
a. Stay, Mumbai
b. Non-Stay, India
c) Stay, India
d) None of the above
| Answers: 11)Resident in India 12)Resident in India 13)Non-resident 14)Non-resident in India 15)R but NOR 16)Less than 182 days 17)R & OR 18)All of the above 19)R & OR 20)Stay, India |
21. If the assessee does not satisfy the basic condition he will be treated as ……………..
a) Ordinary Resident
b) Non-ordinary Resident
c) Non Resident
d) None of the above
22. If the assessee satisfies the basic condition he will be treated as ………………..
a) Resident
b) Non-ordinary Resident
c) Non Resident
d) None of the above
23. A person shall be deemed to be of an Indian origin if he or either of his or any of his ………….. were born in …………… India.
a) Parents and grandparents, Undivided
b) Child and Parents, Undivided
c) None of the above
24. If an individual satisfies only basic condition and non of the additional condition he will be called as ……………..
a) Ordinary resident
b) Non-ordinary resident
c) Non-resident
d) None of the above
25. Agricultural Income is …………… from tax. However, it is included in the total income for determining the ………….. of tax.
a) Omited, rate
d) Calculated, rate
c) Exempted, rate
26. Upper monetary limit for claiming exemption from gratuity for “other” category is ……………..
a. Rs 10,00,000
d. Rs 9,00,000
c. Rs 1,00,000
d. Rs 5,00,000
27. Uncommuted pension means …………… payments.
a) Lumsum
b) Periodical
c) Yearly
d)None of the above
28. Commutted pension is exempted in the hands of …………….. employees.
a) Private
b) government
c) None of the above
29. …………….. is maximum celing for claiming exemption as compensation on retirement of an employee from a PSU u/s 10 (10c).
a. Rs 10,00,000
d. Rs 9,00,000
c. Rs 1,00,000
d. Rs 5,00,000
30. Minors Income which is clubbed with that of is parent is exempted up to …………….. .
a) 1,500 per minor child
b) 2,000 per minor child
c) None of the above
| Answer: 21) Non-Resident 22)Resident 23)Parents and grandparents, Undivided 24)Non-ordinary resident 25)Exempted, rate 26)10,00,000 27)Periodical 28)government 29)5,00,000 30)1,500 per minor child |
31. Share of profits received by a partner, from a firm which is separately assessed, is exempt u/s …………….
1) 10 (2 A)
b) 10 (4 B)
c) None of the above
32. Uncommuted pension is taxable under the head ……………….. .
a) Income from House property
b) Income from Salary
c) None of the above
33. Maturity proceeds of key man insurance policy is ……………..
a) Non-Taxable
b) Taxable
c) None of the above
34. Leave salary received during the period of service is ……………….
a) Non-Taxable
b) Taxable
c) None of the above
35. Commuted pension means receipt of ………… amount in lieu of periodical pension.
a) Lumsum
b) Periodical
c) Yearly
d)None of the above
36. ………………. received by the members of parliament or state legislature are exempt.
a) Allowances
b) Salary
c) None of the above
37. Notified amount of gratuity for the employees not covered by payment of gratuity act is …………..
a) Rs 10,00,000
d) Rs 9,00,000
c) Rs 1,00,000
d) Rs 5,00,000
38. Salary of a M.P / M.L.A. is taxable under the head …………..
a) Income from salary
b) Income from other sources
c) None of the above
39. Salary given to partner by a firm is taxable under the head ……………
a) Business Income
b) Income from salary
c) None of the above
40. An Assessee claimed the exemption of gratuity in the past to the extent of 2,50,000 from his previous employer. He was entitled to How much exemption can he claim to the maximum extent :
a) 10,00,000
b) Nil
c) 7,50,000
d) None of the above
| Answer: 31)10 (2 A) 32)Income from Salary 33)Taxable 34)Taxable 35)Lumpsum 36)Allowances 37)10,00,000 38)Income from other sources 39)Business Income 40)7,50,000 |
41. Un-commuted pension received by a Government employee is :
a) Exempt
b) Taxable
c) 1/3 is exempt
d) None of these
42. An employee is neither a government nor covered under the Payment of Gratuity Act, 1972. He has completed 16 years and 8 months of service. The number of completed years considered for gratuity exemption shall be :
a) 17 years
b) 16 years
c) 16 years and 8 months
d) None of the above
43. Compensation received on voluntary is exempt under sec. 10 (10 C) to the maximum extent of :
a) 2,40,000
b) 3,00,000
c) 5,00,000
d) None of the above
44. Dividend is exempt in case :
a) It is paid by an Indian Company
b) It is paid by a foreign company
c) It is paid by a multinational company
d) it is paid by a joint venture unit.
45. Gallantry award means :
a) Param Vir Chakra
b) Mahavir Chakra
c) Vir Chakra
d) All of the above
46. The items of incomes that are totally exempt from tax are covered u/s __.
a) 80
b) 10
c) 8
d) None of the above
47. Upper monetary limit for claiming exemption from gratuity for “other” category is ………….
a) 5,00,000
b) 1,00,000
c) 10,00,000
d) None of the above
48. The dividend income in the hands of the shareholders will be exempt from tax u/s …………..
a) 10 (35)
b) 10 (34)
c) 10 (32)
d) 10 (33)
49. Leave salary received during the period of service is ……………...
a) Exempt u/s 10 (10 AA)
b) Exempt u/s 10 (10 A)
c) Taxable
d) None of the above
50. Tax borne by the employer on non-monetary perquisite provided to an employee is exempt u/s ……………...
a) 10 (10 C)
b) 10 (10 CC)
c) 10 (10 BC)
d) 10 (10 CCC)
| Answer: 41)Taxable 42)16 years 43)5,00,000 44)It is paid by an Indian Company 45)All of the above 46)10 47)10,00,000 48)10 (34) 49)Taxable 50)10 (10 CC) |
