Direct TAX MCQ Question with Answer

Direct TAX MCQ with detailed explanation for interview, entrance and competitive exams. Explanation are given for understanding.

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Question No : 1
Sale of agricultural land on 1st April, 1970 is an example of transfer of capital asset.


Question No : 2
Mr.Karan Kapoor's Taxable Income is Rs.10,00,000. The tax amount will be

Rs. 1,00,000
Rs. 1,50,000
Rs. 2,00,000
None of the above

Question No : 3
The TDS Certificate issued by an employer to his employees in case of salary income is

Form 16
Form 26
Form 26A
Form 26Q

Question No : 4
PAN is necessary for the following assessees -

A businessman whose total turnover is Rs.5,00,001
A charitable trust
Both of the above
None of the above

Question No : 5
YoungStars, a club, lets out its furnished rooms solely to its members on regular basis. The income earned by the club from such letting-out will be chargeable under the head

Income from salary
Income from House Property
Income from Other Sources
Income from Business and Profession

Question No : 6
Which of the following income is / are exempt from tax?

Payments received from family income by a member of a HUF
Share of profit received by a partner of a partnership firm.
Any income of an educational institution and hospitals
All of the above

Question No : 7
The rates of Income Tax are specified in

Income Tax Act, 1961
Income Tax Rules, 1962
Finance Act
Circulars of CBDT

Wanna test your skill? Here are some exams we prepared for you. So if you need to test your skill just attempt any exam from bellow.

Exam Name No. Of Q Link
Accounting set 1 30 Start
Accounting set 2 30 Start
Accounting set 3 30 Start
Accounting set 4 30 Start
Accounting set 5 30 Start
Accounting set 6 30 Start
Accounting set 7 30 Start
Accounting set 8 30 Start
Accounting set 9 30 Start
Accounting set 10 30 Start
Accounting set 11 30 Start
Accounting set 12 30 Start