CA INTER PAPER - 4(A) INCOME TAX
CHAPTER - 1 TAX BASICS (INTRODUCTION) MOST IMPORTANT OBJECTIVE QUESTION
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1. Income-tax Act extends to:
2. Finance Bill becomes the Finance Act when it is passed by:
3. A's total income for the assessment year 2023-24 is Rs. 7,90,000. His tax
liability, if he does not exercise option u/s 115BAC, shall be—
4. A's total income for the assessment year 2023-24 is Rs. 7,90,000. His tax
liability, if he exercises option u/s 115BAC, shall be—
5. Part I of First Schedule of the Finance Act, 2022 has given rates of income tax for
the assessment year:
6. Part II of First Schedule of the Finance Act, 2022 has given the rates of tax
deductible at source for the financial year:
7. Part III of First Schedule of the Finance Act, 2022 has given the rates of advance
tax & tax to be deducted in case of salary for the assessment year:
8. The circulars issued by CBDT are binding on:
9. Guidelines issued by CBDT by a circular are binding on:
10. A.O.P. should consist of:
11. Body of individuals should consist of:
12. A new business was set up on 15.10.2022 and it commenced its business from
1.12.2022. The first previous year in this case shall be:
13. A person leaves India permanently on 15.11.2022. The assessment year for
income earned till 15.11.2022 in this case shall be:
14. Surcharge on income tax for the A.Y. 2023-24 is payable by a domestic company
other than referred to in section 115BAA or 115BAB at the rate of:
15. Surcharge in case of a foreign company is payable at the rate of
16. Surcharge on income tax is payable by:
17. The maximum amount on which income-tax is not chargeable in case of H.U.F.
for assessment year 2023-24 is:
18. The maximum amount on which income tax is not chargeable for the assessment
year 2023-24 in case of a resident individual less than 60 years old is:
19. The maximum amount on which income tax is not chargeable for the assessment
year 2023-24 in case of an individual who is resident in India of the age of 60
years or more but less than 80 years and has not exercised the option to be
taxed u/s 115BAC is:
20. The maximum amount on which income tax is not chargeable for the assessment
year 2023-24 in case of an individual who is resident in India of the age of 60
years or more but less than 80 years and has exercised the option to be taxed
u/s 115BAC is
21. The maximum amount on which income-tax is not chargeable for the assessment
year 2023-24 in case of an individual who is non-resident in India and who is less
than 60 years old and has not exercised the option to be taxed u/s 115BAC is:
22. The maximum amount on which income-tax is not chargeable for the assessment
year 2023-24 in case of an individual who is non-resident in India and who is less
than 60 years old and has exercised the option to be taxed u/s 115BAC is:
23. The maximum amount on which income-tax is not chargeable for the assessment
year 2023-24 in case of a man/women who is of the age of 60 years or above but
who is not resident of India and has not exercised the option to be taxed u/s
115BAC is:
24. The maximum amount on which income-tax is not chargeable for the assessment
year 2023-24 in case of a man/women who is of the age of 60 years or above but
who is not resident of India and has exercised the option to be taxed u/s 115BAC
25. The maximum amount on which income tax is not chargeable for the assessment
year 2023-24 in case of an individual who is resident in India of the age of 80
years or more and has not exercised the option to be taxed u/s 115BAC is:
26. The maximum amount on which income tax is not chargeable for the assessment
year 2023-24 in case of an individual who is resident in India of the age of 80
years or more and has exercised the option to be taxed u/s 115BAC is:
27. The maximum amount on which income-tax is not chargeable in case of firm is:
28. The maximum amount on which income-tax is not chargeable in case of a cooperative society who has not opted to be taxed u/s 115BAD is:
29. The maximum amount on which income-tax is not chargeable in case of a cooperative society who has opted to be taxed u/s 115BAD is:
30. Surcharge on income tax for assessment year 2023-24, is payable by an
individual/HUF/AOP/BOI, whose total income does not include short term capital
gain u/s 111A, long-term capital gain u/s 112, long-term capital gain u/s 112A
and income from dividend, at the rate of
31. Health and education cess is leviable on:
32. Health and education cess is leviable @:
33. Health and education cess is leviable in case of:
34. In case of an individual and HUF, health and education cess is leviable only when
the total income of such assessee:
35. For assessment year 2023-24, a firm is subject to income-tax at a flat rate of
36. The total income of the assessee has been computed at Rs. 3,83,494.90. For
rounding off, the total income will be taken as:
37. The total income of the assessee has been computed as Rs. 4,83,495. For
rounding off the total income will be taken as:
38. Income-tax is rounded off to:
39. R, a resident in India, is 57 years old. His total income for the assessment year
2023-24 is Rs. 4,90,000. His tax liability, if he has not opted to be taxed u/s
115BAC, shall be:
40. R, a resident in India, is 57 years old. His total income for the assessment year
2023-24 is Rs. 4,90,000. His tax liability, if he has opted to be taxed u/s 115BAC,
shall be:
41. R, a resident of India, is 61 years old. His total income for the assessment year
2023-24 is Rs. 5,15,000. His tax liability, if he does not exercise option u/s
115BAC, shall be:
42. R, a resident of India, is 61 years old. His total income for the assessment year
2023-24 is Rs. 5,15,000. His tax liability, if he exercises option u/s 115BAC, shall
be:
43. Mrs. R, a resident of India, is 56 years old. Her total income for the assessment
year 2023-24 is Rs. 11,20,000. Her tax liability, if she does not exercise option
u/s 115BAC, shall be:
44. Mrs. R, a resident of India, is 56 years old. Her total income for the assessment
year 2023-24 is Rs. 11,20,000. Her tax liability, if she exercises option u/s
115BAC, shall be:
45. Mrs. A, a resident of India, is 61 years old. Her total income for the assessment
year 2023-24 is Rs. 4,50,000. Her tax liability, if she does not exercise option u/s
115BAC, shall be:
46. Mrs. A, a resident of India, is 61 years old. Her total income for the assessment
year 2023-24 is Rs. 4,50,000. Her tax liability, if she exercises option u/s
115BAC, shall be:
47. R's total income for the assessment year 2023-24 is Rs. 10,20,000. His tax
liability, if he does not exercise option u/s 115BAC, shall be:
48. R's total income for the assessment year 2023-24 is Rs. 10,20,000. His tax
liability, if he exercises option u/s 115BAC, shall be:
49. Mrs. A, a non-resident in India is 66 years old. Her total income for the
assessment year 2023-24 is Rs. 6,35,440. Her tax liability, if she does not
exercise option u/s 115BAC, shall be
50. Mrs. A, a non-resident in India is 66 years old. Her total income for the
assessment year 2023-24 is Rs. 6,35,440. Her tax liability, if she exercises option
u/s 115BAC, shall be—