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.
C. Excise duty is an example of direct tax.
Income Tax Act 1961
Income Tax Rule 1961
Finance Act
Circular of CBDT
1922
1961
1860
None of the above
Rs.1,000
Rs.1,500
Rs.1,200
None of the above
1918
1861
1860
1886
The actual amount of interest
Rs.30,000
Rs 30,000 or Actual amount which ever is lower
Rs.1,50,000
True
False
One month from the end of each quarter
One week from the end of each quarter
15 days from the end of each quarter
Last day of the quarter
True
False
2000-01
2006-07
2005-06
2004-05
Rs. 1,00,000
Rs. 1,50,000
Rs. 2,00,000
None of the above
Rs.150000 & 30000 respectively
Rs.150000 & 120000 respectively
Rs.120000 & 30000 respectively
None of the above.
Interest in default in furnishing return of income
Interest for concealment of particulars
Interest for default in payment of advance tax
None of the above
A person by whom any tax or other sum of money is payable
A person by whom any proceeding under the Act has been taken
A person who is deemed to be an assessee in default under any provision of this Act
All of the above
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
Finance Ministry of Central Govt.
Central Govt. of India.
CBDT
Dept. of Revenue
It is an Indian Company
During the previous year it's control and management is situated wholly in India
(a) & (b) both
Any of the above
13th Oct. 1961
1st April 1961
13th Sept 1961
13th Dec 1961
Entertainment tax
VAT
Professional tax
None of the above.
Rs. 50,000
Gross Total Income
Rs 1,00,000
None of the above
A Registered Firm
An Unregistered Firm
All of the above
None of the above
1st April '05
1st April '06
1st April '07
31st March '06
True
False
True
False
Income of parent having higher income
Proportionately with both parent's income
Income of parent having lower income
None of the above
True
False
Rs.1,60,000
Rs.1,30,000
Rs.1,10,000
Rs. 80,000
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
Resident
Not Ordinarily Resident
Non Resident
All of the above.
State Govt.
Central Govt.
Both of the above
None of the above
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.