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11th Standard Commerce Direct Taxes English Medium Free Online Test One Mark Questions with Answer Key 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. Period of assessment year is

    (a)

    1st April to 3pt March

    (b)

    1st March to 28th February

    (c)

    1st July to 30th June

    (d)

    1st Jan. to 31st Dec.

  2. The aggregate income under five heads is termed as

    (a)

    Gross Total Income

    (b)

    Total Income

    (c)

    Salary Income

    (d)

    Business Income

  3. Income Tax was passed in the year

    (a)

    1959

    (b)

    1960

    (c)

    1962

    (d)

    1961

  4. The person who has to pay tax or other sum of money payable under Income Tax Act is called as

    (a)

    An Assessee

    (b)

    A Client

    (c)

    A Debtor

    (d)

    A Creditor

  5. Income from rent of agricultural land is

    (a)

    Agricultural income

    (b)

    Business income

    (c)

    House property income

    (d)

    Casual income

  6. How many heads of income are there to compute Gross total income?

    (a)

    Six

    (b)

    Five

    (c)

    Four

    (d)

    Three

  7. Compensation received for loss of trading asset is a _______________

    (a)

    Capital receipt

    (b)

    Revenue receipt

    (c)

    a casual receipt

    (d)

    None of the above

  8. Tax charged on Long Term Capital Gain is ____________

    (a)

    20%

    (b)

    15%

    (c)

    25%

  9. ________________exercises overall control over Administration of Taxes.

    (a)

    Income Tax Officer

    (b)

    Tribunal

    (c)

    CBDT

    (d)

    Finance Minister

  10. Double Taxation is calculated ____________from company.

    (a)

    Dividend

    (b)

    Interest

    (c)

    Certificate

    (d)

    Bonus shares

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