Q. The number of income source for a person are .
✅ Correct Answer: (D)
Any of the above
Income Tax Law and Practices MCQs and Notes
Q. The meaning of exempted income is .
✅ Correct Answer: (A)
Not included in total income
Q. The Company may have the residential status as .
✅ Correct Answer: (A)
Resident or Non-resident
Q. Resident of India includes .
✅ Correct Answer: (D)
Both (a) and (b)
Q. _________ of Income Tax Act is related to residential status.
✅ Correct Answer: (A)
Section 2
Q. Which section of the Income Tax Act exempted incomes have been mentioned?
✅ Correct Answer: (A)
Section 80C
Q. __________ is exempted from income tax.
✅ Correct Answer: (D)
(d) Dividend from Indian company
Q. The tax incidence for company or firm in which income received outside India from a source controlled from India for non-resident is .
✅ Correct Answer: (A)
Non-taxable
Q. The tax incidence for company or firm in which income received outside India from a source controlled from India for resident is .
✅ Correct Answer: (A)
Taxable
Q. The tax incidence for company or firm in which income received in India and company for non-resident is .
✅ Correct Answer: (A)
Taxable