- Arm’s length price as per section 92F is the price applied or proposed to be applied when:
(a) two unrelated persons enter into a transaction in uncontrolled conditions
(b) two related persons enter into a transaction in uncontrolled conditions
(c) two unrelated persons enter into a transaction in controlled conditions
(d) two related persons enter into a transaction in controlled conditions - 81. In case the income of an individual includes the income of Rs.25,000 of his minor child in terms of section 64(IA), such individual shall be entitled to an exemption under section 10 (32) of:
(a) Rs.25,000
(b) Rs.1,500
(c) Rs.2,500
(d) Rs.15,000 - 82. Any assessee (except an eligible assessee in respect of an eligible business referred to in section 44 AD or 44 ADA) must pay upto 75 percent of advance tax payable:
(a) on or before June 15 of the previous year
(b) on or before September 15 of the previous year
(c) on or before December 15 of the previous year
(d) on or before March 15 of the previous year - 83. The scheme of partial integration of tax or non-agricultural income with income derived from agricultural is applicable if an individual has:
(a) Non-Agricultural income of more than the exemption limit or agricultural income exceeding Rs.5000
(b) Non-Agricultural income of more than the exemption limit or agricultural income exceeding Rs.2500
(c) Non-Agricultural income of more than the exemption limit and agricultural income exceeding Rs.2500
(d) Non-Agricultural income of more than the exemption limit and agricultural income exceeding Rs.5000 - 84. Which of the following requirements have to be satisfied in order that an assessee is entitled to claim deduction under section 91 for doubly taxed income?
A. The assessee must have been non- resident in India in the relevant previous year.
B. The assessee must have been resident in India in the relevant previous year.
C. Income must have been accrued or arisen to him during that previous year in India.
D. Income must have been accrued or arisen to him during that previous year outside India.
E. In respect of that income which accrued or arouse outside India, he must have paid by deduction or otherwise tax under the law in force in the country in question.
Choose the correct answer from the options given below:
(a) A and C Only
(b) B and D Only
(c) B, D and E Only
(d) A, C and E Only - 85. If the employee pays tax within the parameters of alternative tax regime under section 115 BAC then from assessment year 2025-26, standard deduction from salary income is:
(a) NIL
(b) Rs.50,000 or gross salary, whichever is lower
(c) Rs.75,000 or gross salary, whichever is lower
(d) Rs.40,000 or gross salary, whichever is lower - 86. Match the List-I with List-II
List-I (Item)
A. Deduction in respect of medical insurance premium
B. Deduction in case of a person with disability
C. Deduction in respect of interest on loan taken for higher education
D. Deduction in respect of contribution to Agnipath Scheme
List-II
I. Section 80CCH
II. Section 80D
III. Section 80U
IV. Section 80E
Choose the correct answer from the options given below:
(a) A-IV, B-I, C-II, D-III
(b) A-III, B-IV, C-I, D-II
(c) A-II, B-III, C-IV, D-I
(d) A-I, B-II, C-III, D-IV - 87. Match the List-I with List-II
List-I
A. Deduction of Tax at source on fees for professional and technical services
B. Deduction of Tax at source from income by way of rent
C. Deduction of Tax at source from winnings from lotteries or crossword puzzles etc.
D. Deduction of Tax at source from interest on securities
List-II
I. Section 194 B
II. Section 193
III. Section 194 I
IV. Section 194 J
Choose the correct answer from the options given below:
(a) A-I, B-II, C-III, D-IV
(b) A-IV, B-III, C-II, D-I
(c) A-IV, B-III, C-I, D-II
(d) A-II, B-I, C-IV, D-III - 88. Which of the following statements are correct?
A. If a company is an Indian company, it will automatically be considered as a domestic company.
B. Foreign company means a company which is not a domestic company.
C. The residential status of an Indian company can be non-resident in India.
D. The residential status of a Foreign company can never be resident in India.
E. Foreign income is taxable in the hands of company resident in India.
Choose the correct answer from the options given below:
(a) A, B and C Only
(b) B, C and D Only
(c) A, C and E Only
(d) A, B and E Only - 89. Which of the following statements is correct regarding tax avoidance?
A. Tax avoidance is a legitimate arrangement to minimize tax liability.
B. Tax avoidance involves an element of malice.
C. Tax avoidance takes into account the loopholes in the law.
D. Tax avoidance is a purposeful attempt to avoid tax payment after the tax liability has arisen.
E. Tax avoidance is similar to tax default.
Choose the correct answer from the options given below:
(a) Only A and C
(b) Only A, B and C
(c) Only B, D and E
(d) Only A, C and E
Answer Key
| 1 (a) | 2 (b) | 3 (c) | 4 (d) | 5 (c) |
| 6 (c) | 7 (c) | 8 (c) | 9 (d) | 10 (a) |