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11th Standard Commerce Direct Taxes English Medium Free Online Test One Mark Questions 2020 - 2021

11th Standard

    Reg.No. :
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Commerce

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. Income Tax is

    (a)

    a business tax

    (b)

    a direct tax

    (c)

    an indirect tax

    (d)

    none of these

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

    (a)

    Assessment year 

    (b)

    Previous year

    (c)

    Light year 

    (d)

    Calender year

  3. Income Tax is levied by

    (a)

    Local Authority

    (b)

    State Government

    (c)

    Central Government

    (d)

    All of the above

  4. Income of the previous year 2017- 18 is taxable in the assessment year

    (a)

    2015-16

    (b)

    2017-18

    (c)

    2016-17

    (d)

    2018-19

  5. In case of an individual-the exempted limit income for assessment year 2018-2019 is.

    (a)

    Rs.2,50,000

    (b)

    Rs.1,50,000

    (c)

    Rs.2,00,000 .

    (d)

    Rs.3,00,090

  6. Income Tax Act came into force  on ________________

    (a)

    1.4.1932

    (b)

    1.4.1962

    (c)

    1.4.1947

    (d)

    1.4.1954

  7. The legislative powers of the Union Government and the State Governments are given in the ____________ of the Indian Constitution.

    (a)

    Article 246 (VII schedule)

    (b)

    Article 246 (VI schedule)

    (c)

    Article 264 (VII schedule)

    (d)

    Article 446 (VII schedule)

  8. Indian Taxation system was framed in Constitution of law in Article _____________Seventh Schedule.

    (a)

    146

    (b)

    246

    (c)

    248

    (d)

    249

  9. Normal  income Tax is prescribed by ___________every year.

    (a)

    Financial Minister

    (b)

    Finance Act

    (c)

    Finance Department

    (d)

    None of these

  10. Which income is exempled from tax?

    (a)

    Capital gain

    (b)

    Lottery

    (c)

    Agricultural income

    (d)

    Deemed income

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