1. Income Tax Act was passed in the year……….
A) 1934 B) 1956 C) 1961 D) 1972
Answer Option C 1961
2. Income Tax Act came into force on…………
A)1st April 1935 B) 1st April 1961 C) 1st April 1962 D) 1stApril 1956
Answer Option C 1 April 1962
3. Income tax is a………………….
A) Professional tax B) Direct tax C) Indirect tax D)Service taxAnswer Option B , Direct Tax
4. Income tax rates are fixed in……………..
A) Income tax Act B) Finance Act C) Income tax rulesD) Finance rules
Answer Option B, Finance Act
5. There are …………… heads of income
A) 3 B) 4 C) 5 D) 2 Answer Option C, Five
6. A person with the age of ………… or more is considered as a super senior citizen as
per Income tax Act.
A) 56 B) 60 C) 80 D) 85Answer Option C , 80 years
7. The minimum exceptional limit of income is……………….
A) 250,000 B) 200,000 C) 300,000 D) 500,000
Answer Option A, 250,000
8. Rebate of Income tax is defined as per section ……………..
A) 81A B) 87A C) 81C D) 87C
Answer Option B, SECTION 87A
9. Section 2(9) of Income tax deals with…………..
A) Person B) Assessee C) Previous Year
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