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Income Tax quiz multiple choice question and answer

Income Tax quiz multiple choice question and answer

Income Tax quiz multiple choice question and answer

Income Tax quiz

income tax

Income tax

1.What is adjustment gross income

  1. Your after tax income
  2. Your Taxable income after deduction
  3. your taxable income before deduction

2. Which of the following does not count as an itemized deduction on your income tax?

3. Which of the following isn’t a good reason to file a tax amendment?

4. Which form tells your employer all they need to know about your tax-related allowance information?

  1. W-2
  2. W-4
  3. w-10

5.The income company should be concidered as

  1. Domestic company
  2. International

6. which of the following income is exempt under section 10

  1. Income form agriculture
  2. Bonus on life insurance
  3. Share in total income of firm
  4. income from mutual funds

7. the definition of income under income tax act does not include air space above its territory and territorial water

  1. True
  2. false

8. Determine the status of A and B who are legal heire of  C ?

  1. BOI
  2. Local Authority
  3. HUF
  4. An individuals

9. A partnership firm is taxable at the rate of

  1. 20%
  2. 30%
  3. slab rate
  4. profit of the firm shall be clubed

Income Tax quiz 2

Income Tax quiz 2

1 What is adjusted gross Income

  1. Your after tax income
  2. your taxable income after deductions
  3. Your taxable income before deductions

 

2. Which of the following does not count as an itemised deduction on your income tax?

  1. The cost of utilities like water and gas
  2. theft loss
  3. gambling loss

3. Which of the following isn’t a good reason to file a tax amendment?

  1. you made a mathematical error
  2. You put down the wrong filing status
  3. You forget to count some one as dependent

4.Which form tells your employer all they need to know about your tax-related allowance information?

  1. W-2
  2. W-4
  3. W-10

5. Which of the following is not head of income of tax

  1. Income tax
  2. salary
  3. other source
  4. house property

6. Which is exempted income

  1. Agriculture income
  2. professional income
  3. salary income
  4. rental income from house property

7. which of the following is the basis of computing income tax

  1. Accrual
  2. due
  3. receipt
  4. due or receipt which ever is earlier

8. Who collect income tax

  1. Local authority
  2. state government
  3. Central government

 

 

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