INCOME TAX OBJECTIVE QUESTIONS

A Previous Year and an Assessment Year as defined under the Income Tax Act
covers a period from:-

a. 1st January to 31st December

b. 1st April to 31st March
c. 1st July to 31st March
d. 1st April to 31st December
2

In a case where Previous Year is quoted as '2010-11', the correct Assessment Year
would be:-

a. 1st March, 2011 to 31st December, 2011

b. 1st April, 2011 to 31st March, 2012
c. 1st July, 2011 to 31st March, 2012
d. 1st April, 2011 to 31st December, 2011
3

Under Income Tax Act, 1961 there are how many heads for assessment, under
which Gross Total income is assessed?

a. 4
b. 5
c. 6
d. 3
4

Taxable Income is defined as:-

a. Income assessed under 5 heads - Chapter VIA deductions

b. Income assessed under 4 heads + Chapter VIA deductions
c. Income assessed under 5 heads + Chapter VIA deductions
d. Income assessed under 3 heads - Chapter VIA deductions
5

Mr. X, a salaried individual, was present in India from 1st April, 2008 to 25th