Taxation System in India CDS Questions

CDS Economy

Taxation System in India MCQ Questions


13.
'Assessment Year' under the Income Tax Act is defined under which section?
A.
Section 3
B.
Section 2(7)
C.
Section 2(9)
D.
Section 2(31)
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ANSWER :
C. Section 2(9)
14.
The financial year in which income is earned is known as the:
A.
Accounting year only
B.
Calendar year
C.
Assessment year
D.
Previous year
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ANSWER :
D. Previous year
15.
If income is earned during the financial year 2024-25, the relevant assessment year will be:
A.
2025-26
B.
2024-25
C.
2026-27
D.
2023-24
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ANSWER :
A. 2025-26
16.
The term 'person' under the Income Tax Act is defined in:
A.
Section 4
B.
Section 2(31)
C.
Section 2(7)
D.
Section 2(9)
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ANSWER :
B. Section 2(31)
17.
Which of the following is NOT included in the definition of 'person' under Section 2(31) of the Income Tax Act?
A.
Hindu Undivided Family (HUF)
B.
Local authority
C.
Association of Persons (AOP)
D.
A registered trademark
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ANSWER :
D. A registered trademark
18.
The term 'assessee' is defined under which section of the Income Tax Act?
A.
Section 2(9)
B.
Section 139
C.
Section 2(7)
D.
Section 2(31)
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ANSWER :
C. Section 2(7)