Q. The interest on loan paid by the Government of India to a non-resident outside India is _______________in India.
✅ Correct Answer: (A)
Not taxable
Income Tax Law and Practices MCQs and Notes
Q. The income of previous year is chargeable to tax in the .
✅ Correct Answer: (A)
Immediately succeeding assessment year
Q. Residential Status of an assesses can be .
✅ Correct Answer: (B)
Different for different assessment year
Q. Any rent or revenue derived from land which is situated in India and is used for agricultural purpose is .
✅ Correct Answer: (C)
(c) Exempted from tax
Q. The definition of the person includes .
✅ Correct Answer: (D)
All of the above
Q. The capital gain is chargeable under of Income Tax Act.
✅ Correct Answer: (A)
Section 45
Q. The Income Tax Act, 1961 broadly covers .
✅ Correct Answer: (D)
All of the above
Q. ____________ comes under agricultural income.
✅ Correct Answer: (A)
Tea garden
Q. The agricultural income includes .
✅ Correct Answer: (D)
All of the above
Q. The sum of various heads is called as .
✅ Correct Answer: (C)
Gross total income