A. one
B. two
C. three
D. none
✅ The correct answer is option B.
Income Tax MCQs
The amount deductible for severe disability u/s 80U is ……………………..
A. rs: 1,00,000
B. rs: 1,20,000
C. rs: 50,000
D. rs: 90,000
✅ The correct answer is option A.
The amount of deduction under section 80DD regarding disability is …………………
A. rs: 30,000
B. rs: 50,000
C. rs: 75,000
D. actual expense.
✅ The correct answer is option B.
Which among the following deduction is available only to disabled persons :
A. 80 c
B. 80 g
C. 80 q
D. 80 u
✅ The correct answer is option D.
Section 89 of the Income tax Act deals with ………………………..
A. perquisites
B. arrears of salary income
C. allowances
D. profit in lieu of salary
✅ The correct answer is option B.
A firm shall pay tax on long term capital gain @ ……………………………
A. 15%
B. 20%
C. 25%
D. 30%
✅ The correct answer is option B.
Partnership firms are governed by the provisions of the Indian Partnership Act of ……………….
A. 1956
B. 1932
C. 1946
D. 1881
✅ The correct answer is option B.
A partnership firm will be assessed as firm if there is …………………….
A. an agreement
B. a written agreement
C. an oral agreement
D. none of the above.
✅ The correct answer is option B.
Secondary and higher education cess is charged at the rate of …………………….. of the amount of income tax.
A. 1%
B. 2%
C. 3%
D. 5%
✅ The correct answer is option A.
Salary on which income tax is borne by the employer is called ………………………………
A. foregoing salary
B. tax free salary
C. tax holiday
D. none
✅ The correct answer is option B.