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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 : 36
The amount of interest on borrowed capital allowable as deduction in case of a let out property is

The actual amount of interest
Rs.30,000
Rs 30,000 or Actual amount which ever is lower
Rs.1,50,000
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Question No : 37
The aggregate amount of deductions under chapter VI-A can not exceed

Rs. 50,000
Gross Total Income
Rs 1,00,000
None of the above
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Question No : 38
For a senior citizen the amount of deduction U/s 80D available is

The amount of premium paid or Rs.10,000 whichever is higher
The actual amount of premium paid or Rs.10,000 whichever is lower
The actual amount of premium paid or Rs.15,000 whichever is lower
None of the above
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Question No : 39
Income of a minor will not be clubbed with his/her parent's income if

Such income is earned by that child by applying his/her physical labour,talent or any specialized knowledge
Child is illiterate
Parents are handicapped
the child does not give her consent
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Question No : 40
If both parents are earning then income of a minor child will be clubbed with

Income of parent having higher income
Proportionately with both parent's income
Income of parent having lower income
None of the above
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Question No : 41
If a self occupied property is converted into HUF property without adequate consideration then

Entire income from such property will be clubbed with the income of the transferor
50% of such income will be clubbed
Such income will not be clubbed
None of the above
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Question No : 42
If an assessee makes an absolute transfer of an asset without any consideration then any income from such property should be clubbed with the income of the assessee.

True
False
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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