CHAPTER 1 INTRODUCTION AND BASIC CONCEPTSOF TAX MCQ TAX LAW
CHAPTER 1 INTRODUCTION AND BASIC CONCEPTSOF TAX Q1: Income-tax Act, 1961 applies to:
(a) Whole of India
(b) Whole of India excluding Sikkim
(c) Whole of India excluding Jammu & Kashmir
(d) All of the above
Q2: Finance Bill becomes the Finance Act when it is passed by:
(a) The Lok Sabha
(b) Both Lok Sabha and Rajya Sabha
(c) Both House of Parliament and signed by the President of India
(d) Both House of Parliament and signed by Prime Minister of India.
Q3: The term assessee has been defined under section:
(a) Section 2(34)
(b) Section 2(9)
(c) Section 2(7)
(d) None of the above
Q4: Assesse is always a person but a person may or may not be an assessee.
(a) True
(b) False
Q5: A person may not have assessable income but may still be assessee.
(a) True
(b) False
Q6: Previous Year is defined
(a) under section 3 (b) under section 4
(c) under section 5
(d) None of the above
Q7: Assessment Year is the period of 12 month commencing on 1st day of:
(a) April every yea...