S.Y B.COM
SEMESTER - 4
INCOME TAX RETURN PREPARATION
(ITRP)
MCQS - UNIT 2
1) An Individuals having income from salary/one house property/income from other sources and has not claim any deduction u/s 57 has to file which form ?
(A) ITR-1/SAHAJ
(B) ITR-2
(C) ITR-3
(D) ITR-4
2) An individuals/HUF, having income from a propritary business or profession has to file which return form ?
(A) ITR-1
(B) ITR-2
(C) ITR-3
(D) ITR-4
3) For firms, AOPs and BOI2 have to file return in which form ?
(A) ITR-1
(B) ITR-2
(C) ITR-3
(D) ITR-5
4) Which is the due date of submission of return for the assesses who is required to furnish a report in Form No.3CEB u/s 92E pertaining to international/specified domestic transaction.
(A) 30th November
(B) 30th September
(C) 31st July
(D) 31st December
5) What is the due date of submission of return where the assesses is a company ?
(A) 30th November
(B) 30th September
(C) 31st July
(D) 31st December
6) If the assesses discovers any omission or wrong statement in return originally filed, then he/she can filed which return ?
(A) Belated return
(B) Revised Return
(C) Defective Return
(D) None of these
7) Is an unsigned return is valid or not ?
(A) Not valid
(B) Valid
(C) Both A & B
(D) None of these
8) Match the following :
|
Advance Tax payable |
Due date |
|
i) Upto 15% |
(a) On or Before December 15 is of P.Y. |
|
ii) Upto 45% |
(b) On or Before September 15 is of P.Y. |
|
iii) Upto 75% |
(c) On or Before March 15 is of P.Y. |
|
iv) Upto 100% |
(d) On or Before June 15 is of P.Y. |
(A) (i)-D; (ii)-B; (iii)-A; (iv)-C
(B) (i)-D; (ii)-A; (iii)-C; (iv)-B
(C) (i)-A; (ii)-B; (iii)-C; (iv)-D
(D) (i)-D; (ii)-C; (iii)-B; (iv)-A
9) What is the rate of interest for non-payment of Advance tax ?
(A) 1% p.m.
(B) 1% p.a.
(C) 2% p.m.
(D) 5% p.m.
10) Every person is liable to pay Advance tax if tax payable is .......... or more.
(A) Rs.50,000
(B) Rs.1,00,000
(C) Rs.10,000
(D) Rs.10,00,000
11) For an individuals/HUF firm (other than LLP) deriving business income have to file which return form ?
(A) SAHAJ
(B) SUGAM
(C) ITR-2
(D) ITR-7
12) Who is not liable to pay Advance tax ?
(A) A senior citizen
(B) Any person
(C) Any company
(D) All of these
13) Rebate u/s 87A is available only in the case of a resident individual if his/her taxable income is ........... or less.
(A) Rs.5,50,000
(B) Rs.3,50,000
(C) Rs.3,00,000
(D) Rs.2,50,000
14) What is late filling fee if the return is furnished after the due date but on or before December 31st of assesses year ?
(A) Rs.5,000
(B) Rs.10,000
(C) Rs.1000
(D) None of these
15) If the return is furnished after December 31st, what is late filling fee ?
(A) Rs.5000
(B) Rs.10,000
(C) Rs.15,000
(D) Rs.20,000
16) Chief executive officer of every political party is required to submit income tax return under ......... section.
(A) 139 (1) (a)
(B) 139 (4B)
(C) 139 (4C)
(D) 139 (4D)
17) Any University/College/other institution is required to submit return of income u/s ?
(A) 139 (4A)
(B) 139 (4B)
(C) 139 (4C)
(D) 139 (4D)
18) What is the due date of submission of return for the assesses who is a “Working Partner” in a firm ?
(A) 30th November
(B) 30th Sept.
(C) 31st July
(D) 31st December
19) For the assessment year 2019-20, if the assessment is completed before March, 31, 2020, a revised return can be filed up to .............
(A) 31, March, 2010
(B) March 31, 2021
(C) December 31, 2019
(D) Dec.31, 2020
20) Any payment of advance tax made on or before .......... shall be treated as advance tax paid during the financial year.
(A) March 31
(B) May 31
(C) December 31
(D) July 31
21) Interest is not applicable if advance tax paid during the financial year is or more.
(A) 90%
(B) 50%
(C) 20%
(D) 10%
22) Any Business trust/Investment fund have to submit return u/s ..........
(A) 139 (4C)
(B) 139 (4E)
(C) 139 (4F)
(D) Both B & C
23) An individual deriving income from growing and curing coffee would not be obliged to file his return if his income is ...........
(A) Rs.5 lakh or less
(B) Rs.8 lakh or less
(C) Rs.10 lakh or less
(D) Rs.15 lakh or less
24) An individual derives income from growing, curing, roasting and grounding (with or without mixing chicory or other flavoring ingredients) and his income from such activity is ......... then he would not be obliged to file return.
(A) Rs.50,00,000 or less
(B) Rs.8,00,000 or less
(C) Rs.10,00,000 or less
(D) Rs.15,00,000 or less
25) What is the due date of submission of return where the assesses is a company and not having international or specified domestic transactions.
(A) November 30
(B) July 31
(C) September 30
(D) December 31
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