Taxation MCQs and Notes
Q. The Financial year in which the income is earned is called as the
✅ Correct Answer: (C)
previous year
Q. A person by whom any tax is payable under income tax act 1961 is called as
✅ Correct Answer: (C)
assessee
Q. Residential Status of an individual depends on the stay of assesses in india during the
✅ Correct Answer: (D)
previous year
Q. The income tax act extends to __________________________________________ of india
✅ Correct Answer: (D)
whole
Q. The Constitution of india empowers ____________________________________ to levy tax on income
✅ Correct Answer: (B)
central government