Q. Income which accrue in India from a business controlled from India _________________
✅ Correct Answer: (B)
Is not taxable only for non – resident
Direct Tax MCQs and Notes
Q. Income received in India ____________
✅ Correct Answer: (C)
Is taxable for a resident, a resident but only ordinarily resident non -resident
Q. Income which accrue or arise outside India and also received outside India is taxable in case of __________
✅ Correct Answer: (A)
Resident only
Q. Total income of person is determined on the basis of his ________________
✅ Correct Answer: (A)
Residential Status in India
Q. Income which accrue or arise outside India but are received directly into India are taxable in case of ________
✅ Correct Answer: (D)
All these assesses
Q. Residential status is to be determined for ____________
✅ Correct Answer: (A)
Previous year
Q. A company joining with two other Companies in a Joint venture is treated under Income tax laws as __________.
✅ Correct Answer: (B)
An Association of persons
Q. Mr. Joshi runs a chemist`s shop, accounting year of which is the financial year. On November -9,2017.He sets up a chemical factory. What is the previous year for the assessment year 2018-19 for the above two businesses___________________
✅ Correct Answer: (D)
Shop: 1-4-2017 to 31-3-2018 and factory 9-11-2017 to 31-3-2018
Q. Previous year means the _____________
✅ Correct Answer: (A)
Financial year immediately after the assessment year
Q. Assessment year is the period of twelve months commencing on ________________
✅ Correct Answer: (D)
The first day of April every year