Income Tax is ___________

(a)

a business tax

(b)

a direct tax

(c)

an indirect tax

(d)

none of these

Period of assessment year is ________.

(a)

1^st April to 31st March

(b)

1^st March to 28th February

(c)

1^st July to 30th June

(d)

1^st Jan to 31st Dec.

The year in which income is earned is known as _____.

(a)

Assessment year 

(b)

Previous year

(c)

Light year 

(d)

Calender year

The aggregate income under five heads is termed as _______.

(a)

Gross Total Income

(b)

Total Income

(c)

Salary Income

(d)

Business Income

Agricultural income earned in India is ______.

(a)

Fully Taxable

(b)

Fully Exempted

(c)

Not considered for Income

(d)

None of the above

What is Income Tax?

What is meant by previous year?

Define the term person?

Define the term assessee?

What is an assessment year?

What is Gross Total Income?

List out the five heads of income.

What do you mean by Total Income?

Write short notes on :
1. Direct Tax
2. Indirect Tax.

Write short notes on CBDT.

Elucidate any five features of Income Tax.

List out any ten kinds of income chargeable under the head income tax.