Income Tax Questions and Answers PDF Free Download

Income tax maths questions and answers PDF can be a great resource for anyone who is looking for help with understanding the complexities of the tax system.

Here we shared important Income Tax Questions and Answers for the exam of the year 2023-24. This PDF book will surely be found helpful and if you read it carefully then definitely you will score good marks in your examination.

Let’s read basic information and download Income Tax Question and Answer PDF Books:

Let’s download income tax objective question and answer pdf books:

Above all Income Tax Questions with answers books cover the following topics:

• Basic Concept of Income Tax
• Residential Status
• Exempt Income
• Income Tax Law & Practices Questions
• Principles of Income Tax
• Direct and Indirect Tax Questions
• Income Tax Problems
• Indirect Tax
• Questions on GST (Goods and Services Tax)
• Accounting System and E-filling of Tax Returns

Income Tax Questions and Answers

Here we shared some frequently asked MCQs, Short and Long Income Tax questions with answers in competitive and college exams.

MCQ Questions

Question 1: What are the details required for filing income tax returns?

(A) PAN, Aadhar Card, Current address and Bank Details

(B) Income proofs and information about all the deductions claimed under Section 80

(C) Tax payment information such as TDS and advance tax payments

(D) All of the above

Question 2: The number of digits in a PAN card is:

(A) 7

(B) 9

(C) 10

(D) 8

Question 3: Income Tax Act was passed in the year ________.

(A) 1934

(B) 1956

(C) 1961

(D) 1972

Question 4: Assessment year is the period of 12 months commencing from ________ Every year.

(A) 1st March

(B)  31st March

(C) 1st April

(D) 30th April

Question 5: CBDT stands for …………………………..

(A) Central Bureau of Direct Taxes

(B) Central Board of Direct Taxes

(C) Citizen’s Board of Direct Taxes

(D) Citizen’s Bureau of Direct Taxes

Question 6: Income exempted from tax is stated in the section ________ Of Income Tax Act.

(A) 5

(B) 10

(C) 12

(D) 8

Question 7: Bonus paid by the employer to the employee is __________.

(A) Fully Taxable

(B) Partly Taxable

(C) Fully Exempted

(D) None of these

Very Short Questions:

1. On which products GST is not levied?
2. When was GST implemented in India?
3. Who can claim the deduction U/S 80DD and what is the maximum limit of deduction?
4. What is a return? How many returns is a normal taxpayer required to furnish under GST law?

Short Questions:

1. What is the tax rate applicable to Mrs P, a resident of India, of 62 years of age?
2. Discuss the taxability of exports under the GST regime. How is it different from exempted supplies?
3. Differentiate between Gross total income and Total Income
4. Discuss the Taxability of income from letting out of capital assets.

Long questions:

1. What are savings based deductions?
2. Discuss the challenges being faced in the implementation of GST.
3. Discuss provisions relating to carrying forward and set-off of losses
4. Explain the features of GST.

I hope you found this article helpful for your income tax exam paper for courses such as B.com, BBA and LLB.

Also Read:

• Income Tax Law and Practice MCQ Quiz
• Finance and Indian Economy-Related Essay & Descriptive Questions with Answers
• Tally ERP 9 PDF Notes with GST Accounting
• Economic And Social Development Quiz

Furthermore, if you have any questions in your mind then do comment below. Our team will soon answer your questions.