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The document is an exam for a class on income tax. It contains multiple choice and short answer questions that assess understanding of key concepts in Indian income tax law. Some of the key concepts assessed include: - The definition of terms like previous year, assessment year, income, person - Classification of taxable entities based on residential status - Allowances and perquisites that are taxable or exempt for employees - Income that is taxable under different heads like salaries - Deductions that are allowed under the salaries head The exam has questions in three parts - multiple choice, choosing between options A or B for short answer questions, and answering one long question out of two options. It tests

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415 views2 pages

Question Paper Model

The document is an exam for a class on income tax. It contains multiple choice and short answer questions that assess understanding of key concepts in Indian income tax law. Some of the key concepts assessed include: - The definition of terms like previous year, assessment year, income, person - Classification of taxable entities based on residential status - Allowances and perquisites that are taxable or exempt for employees - Income that is taxable under different heads like salaries - Deductions that are allowed under the salaries head The exam has questions in three parts - multiple choice, choosing between options A or B for short answer questions, and answering one long question out of two options. It tests

Uploaded by

ranimoorthy45
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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VPMM COLLEGE OF ARTS & SCIENCE 9) The term previous year means ____________

SECOND INTERNAL TEST SEP 2023 a) The accounting period of the assessee b) Financial year before the
Class : III-B.COM ., III - B.COM (CA). , COMMERCE assessment year c) None of the above
Subject Name/Code : Income Tax / 10) The year in which tax on income is computed and determined is called
Subject In charge : Mrs.P.Muthuselvi M.Sc.,M.E.,M.Phil., __________________
Date: Timing: Mark : 50 a) Previous year b) Current year c) Assessment
_______________________________________________________ year
PART-A
I. Choose the correct answer (10*1=10)
1) Dearness allowance is taxable in the hands of __________ PART-B
a) Govt employees b) Non Govt employees c) All
II. Answer ALL questions Choosing either A or B (4*5=20)
employees
11) a) Explain the features of salary.
2) Hostel expenditure allowance is exempted upto ___________
(Or)
a) Rs. 300 per month per child b) Rs. 200 per month per
b) How the taxable entities are classified for determination of residential
child c) Rs. 150 per month per child
status?
3) An employee is deemed as ` specified employee if he is a director in the
12) a) Define (a) Income (b) Person (c) Assessment year (d)
company of has substantial Interest in the company or his chargeable
Previous year
salary per annum exceeds ___________
(Or)
a) Rs. 5,00,000 b) 50,000 c) 1,00,000
b) Explain the income taxable under the head salaies.
4) Death cum Retirement Gratuity paid to a government employee is _____
13) a) Explain the terms :
a) Fully taxable b) Fully exempted c) Partially taxable
(a) Resident (b) Non resident (c) Not ordinarily resident
5) An individual who wants to be resident of India must satisfy at least
(Or)
_______
b) Explain the rules relating to House Rent allowance.
a) One of the Two basic conditions b) Both the basic conditions
14) a) Discuss the deduction allowable under the head "Salaries"
c)None of these
(Or)
6) An Indian company's residential status is that it is always ____________
b) Explain the various types of "Provident fund".
a) Resident b) Non resident c) Ordinarily resident
7) Income tax is applicable to ___________
PART- C
a) Whole of India b) Whole of India except Sikkim c) None of these
III. Answer any one question (2*10=20)
8) The number of major heads of income under Indian Income Tax Act
15) What are the various allowances generally paid to employees?
1961 are __________
16) What are the perquisites taxable in the hands of all employees?
a) 2 b) 6 c) 5
17) What is income as per Income Tax Act 1961.

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