Income tax procedure pleading Book Keeping and Accountancy | Set 1
1. The Income Tax Act 1961 came into force with effect from……..
Correct : A. 1st april 1962
2. Income Tax is charged in…….
Correct : B. assessment year
3. CBDT is control by…….
Correct : A. central government
4. Previous Year started from……
Correct : A. april
5. Income Tax is a……
Correct : C. direct tax
6. Interest u/s 234B is payable by an Assesse due to the following reason……….
Correct : B. defaults in payable of advanced tax
7. In which of the following assessment procedure Assesse compute his taxable income as well as tax on it.......
Correct : C. self-assessment
8. Tax is _ _ _ _ _ _ _ _ at source by the seller from the buyer at the time of debiting the amount account of the buyer or the receipt of payment whichever is earlier.
Correct : D. collected
9. Amount of advance tax paid on due date on or before December 15th by assessee is
Correct : A. 75% of advance tax payable
10. If recipient of income fails to furnish his Permanent Account Number to deduct of tax the tax shall be deducted
Correct : D. higher of the above rate
11. The period of 12 months commencing on the first day of April every year and ending on 31st March is called as_ _ _ _ _
Correct : B. assessment year
12. The highest Administration Authority for Income Tax in India is_ _ _ _ _
Correct : B. cbdt
13. The number allotted by income tax authorities to assessees for identification and which should be quoted in all documents and correspondences is_ _ _ _ _ _
Correct : C. permanent account number(pan)
14. Deduction of tax at source made for incomes which can be calculated in advance is called_ _ _ _ .
Correct : A. t.d.s.
15. Due date of filing of return by a non-business assesse is _ _ _ _
Correct : C. 31st july
16. The agreement among the partners is called _ _ _ _
Correct : A. partnership deed
17. Assertion
(A) an Assessee can pay his tax on the basis of his self-assessment
(R) Reason (R) to 2% to 3% returns are went for scrutiny for the detailed checking of self-assessment returns.
Correct : A. both (a) and (r) are true
18. The application for PAN is made in_ _ _ _
Correct : B. form 49(a)
19. The scheme of advance tax is commonly known as:
Correct : C. pay as you earn
20. In case of salary, TDS certificate is issued in form?
Correct : A. form 16
21. Form 16 is issued by the employer?
Correct : A. annually
22. SUGAM is also known as
Correct : D. itr-4
23. Under which of the following categories partner of partnership firm will be assessed
Correct : A. an individual
24. Sahaj form is also known as......
Correct : A. itr 1
25. First appeal always file by......
Correct : C. assessee
26. When assessee is not satisfied he can go in CIT appeal within.....
Correct : A. 30days
27. If the payee does not furnish PAN and TDS u/s 194 dividends shall be made @.....
Correct : A. 20%
28. The carry forward of losses is permissible if the return of income for the year in which loss incurred is......
Correct : A. filled on time
29. Rate of TDS (u/s 193) Interest on securities is.....
Correct : C. 10%
30. Individual assessee is liable to pay advance tax in -----instalments during the financial year 19-20.
Correct : B. 4
31. TDS made by.......
Correct : A. person making payment
32. The rate of TDS on rental payment of plant & machinery of equipment is.....
Correct : B. 2%
33. Assessing officer is.....
Correct : D. all of the above
34. Interest for non-payment or short payment of advance tax ( u/s 234 B )......
Correct : D. 1% per month or part of the month
35. Income Tax in India is charged at the rates prescribed by……..