Taxes In India Quiz 5 (6 MCQs)

Quiz Instructions

Select an option to see the correct answer instantly.

1. Deduction under section 80C shall be allowed for

Correct Answer: C) Tution fee exclusive of any payment towards any development fee or donation or payment ofsimilar nature.

2. For claiming exemption under section 54B the assessee should acquire

Correct Answer: A) Any agricultural land.

3. Deduction under section 80CCC is allowed to the extent of

Correct Answer: D) Rs. 1,00,000.

4. TI of a person is determined on the basis of his

Correct Answer: A) Residential status in India.

5. Agricultural income is

Correct Answer: C) Fully exempt.

6. Under Income Tax Act, 1961, who may be considered as principal officer of a company?

Correct Answer: D) All of the above.