Q. One who is liable to pay the income tax__________________
✅ Correct Answer: (D)
An Assessee
Direct Tax MCQs and Notes
Q. Whose income is chargeable to Income tax _______________
✅ Correct Answer: (C)
Income of all persons
Q. Income earned during what period is taxed____________
✅ Correct Answer: (B)
Previous Year
Q. In which year is the income tax liability computed_______________
✅ Correct Answer: (A)
Assessment Year
Q. Shivaji University is assessable under the Income Tax Act as _______________.
✅ Correct Answer: (B)
An artificial Juridical Person
Q. A new business was set up on 15-11-2017 and it commences its business from 1-12-2017. The first previous year in this case shall be _______________________
✅ Correct Answer: (A)
15-11-2017 to 31-3-2018
Q. Body of individual should consist of ____________
✅ Correct Answer: (A)
Individual only
Q. Out of the following which is a revenue receipt _______________-
✅ Correct Answer: (C)
Interest from investments
Q. Income tax Act extends to ____________
✅ Correct Answer: (A)
Whole of India