M.Com Entrance Income Tax Scanner – CUET

CUCET M.Com Entrance 2019

1. The tax levied by Local government i.e. Municipal Corporations and municipalities is_____
   (a) Income Tax
   (b) House Tax
   () Wealth Tax
   (d) Gift Tax
2. Which of the following is not a direct Tax?
   (a) Personal income tax
   (b) Service tax
   (c) Wealth tax
   (d) Corporate income tax
3. The first Income tax act was introduced in the year
   (a) 1918
   (b) 1860
   (c) 1861
   (d) 1886
4. Mr.Raju is getting salary of Rs.10,000 per month. His salary is due on last day of every month. Salary of march 2019 was paid on 7 April, 2019 Compute his taxable salary income for the py 2018-19.
   (a) Rs. 1,20,000
   (b) Rs. 1,00,000
   (c) Rs. 1,10,000
   (d) Rs. 90,000
5. The sum of various heads is called as_________
   (a) Taxable income
   (b) Gross total income
   (c) Total income
   (d) Adjusted income

CUCET M.Com Entrance 2020

1. Income tax is collected on all types of income except ________________
   (a) Agricultural Income
   (b) Industrial Income
   (c) Capital Gain
   (d) Household Property
2. Previous year means the financial year immediately preceding the ______________
   (a) Accounting Year
   (b) Assessment Year
   (c) All the above
   (d) None of the above
3. In accordance with the provisions of Section 17 (1) of Income Tax Act, 1961, the term salary includes ______________.
   (a) Any annuity or pension
   (b) Any gratuity
   (c) Any fess, commission, perquisite or profits in lieu of or in addition to any salary or wages
   (d) All of the above
4. The way of tax liability by taking full advantages provided by the Act is ___________
   (a) Tax management
   (b) Tax avoidance
   (c) Tax planning
   (d) Tax evasion

CUCET M.Com Entrance – 2021

1. Any sum received by an individual as a member of HUF from the income of HUF shall be
   (a) fully exempted
   (b) fully taxable u/h ‘salary’
   (c) fully taxable u/h income other than salary
   (d) partially taxable @ 10%
2. Year in which income is taxable is known as _________ and year in which income is earned is known as ________
   (a) PY, AY
   (b) AY, PY
   (c) AY, AY
   (d) PY, PY
3. Highest Administrative Authority for Income Tax in India is
   (a) the Finance Minister
   (b) the Revenue Secretary
   (c) the Director of Income tax
   (d) the CBDT

CUCET M.Com Entrance – 2022

1. Section 28 to 24 D of the Income Tax Act, 1961 is related to
   (a) Income from House Property
   (b) Income from Salary
   (c) Income from Capital Gain
   (d) Profits and Gains from Business and Profession
2. If an asset is put to use for less than 180 days in the previous year, the depreciation is charged at which rate of the following as per Income tax Act?
   (a) 30%
   (b) 50%
   (c) 25%
   (d) Nil
3. Calculate the Gross Annual Value from the following details :
   Municipal value : Rs. 45,000
   Fair Rental value : Rs. 50,000
   Standard Rental value : Rs. 48,000
   Actual Rental value : Rs.42,000
   (a) Rs. 50,000
   (b) Rs. 48,000
   (c) Rs. 45,000
   (d) Rs. 42,000
4. Match list – I with list-II
   List-I (Head of Income)
   (A) House Property
   (B) Salary
   (C) Profit and Gains from Business and Profession
   (D) Capital Gain
   List-II (Part of the Head)
   (I) Sale of Bond
   (II) Car Facility
   (III) Annual value
   (IV) Income from Filing of Returns
   Choose the correct answer from the options given below :
   (a) A-I, B-II, C-III, D-IV
   (b) A-III, B-IV, C-II, D-I
   (c) A-III, B-II, C-IV, D-I
   (d) A-IV, B-III, C-II, D-I