Direct TAX MCQ Question with Answer

Question No : 8
The amount of taxable income is to be rounded off to the nearest multiple of Re.1 for income tax calculations.

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

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

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

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

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

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