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Direct Taxes Important Questions

11th Standard

    Reg.No. :
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Commerce

All questions are compuslory.
Time : 01:00:00 Hrs
Total Marks : 40

    Part A

    5 x 1 = 5
  1. Income Tax is ___________

    (a)

    a business tax

    (b)

    a direct tax

    (c)

    an indirect tax

    (d)

    none of these

  2. Agricultural income earned in India is ______.

    (a)

    Fully Taxable

    (b)

    Fully Exempted

    (c)

    Not considered for Income

    (d)

    None of the above

  3. 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

  4. 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)

  5. Which income is exempled from tax?

    (a)

    Capital gain

    (b)

    Lottery

    (c)

    Agricultural income

    (d)

    Deemed income

  6. Part B

    5 x 2 = 10
  7. What is meant by previous year?

  8. Define the term assessee?

  9. Define the term Income.

  10. What do you mean by Tax?

  11. What is Applicability of Income Tax?

  12. Part C

    5 x 3 = 15
  13. What is Gross Total Income?

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

  15. State slab rate for an individual as per the assessment year 2018-19 under income tax act?

  16. What do you mean by previous year?

  17. What are the exempted income from Income Tax?

  18. Part D

    2 x 5 = 10
  19. Define Tax. Explain the term direct tax and indirect tax with an example.

  20. Write a note on Heads of Income under Income Tax Act:

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