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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 : 8
The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.

True
False

Question No : 9
Income of minor child, if clubbed with income of parents, is exempt from tax up to

Rs.1,000
Rs.1,500
Rs.1,200
None of the above

Question No : 10
Amit has received Rs.25,000 from his former employer as arrear salary of 2004-05 previous year, Rs.85,000 from present employer and Rs.50,000 from the company he is going to join from 01.04.2006, during the previous year 2005-06. The total amount of salar

Rs.1,60,000
Rs.1,30,000
Rs.1,10,000
Rs. 80,000

Question No : 11
Uncommuted pension received by a Government employee is fully exempt from tax.

True
False

Question No : 12
Interest on capital, borrowed on 10.10.2000, for self-occupied property is deductible upto a maximum amount of

Rs.1,00,000
Rs.1,50,000
Rs.50,000
No limit

Question No : 13
Tax' is imposed on a person by

State Govt.
Central Govt.
Both of the above
None of the above

Question No : 14
Which of the following statements is incorrect?

Income tax is a direct tax
Wealth tax is a central govt. tax
Excise duty is an example of direct tax.
Entry tax is a state govt. tax.

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