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CA Final Income Tax Department — practice questions — page 3

Explore 88 free Income Tax Department questions in CA Final Taxation. Open each question or exercise to read its content, reference answers and available explanation.

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Income Tax Department questions and exercises with answers

Showing questions 61–88 of 88.

A return due on 31 October of the assessment year applies to which filer?Read the answer and worked solution →Which body is the apex body that heads the Income Tax Department?Read the answer and worked solution →Which Act is the most important direct tax law enforced by the Income Tax Department?Read the answer and worked solution →In which year was the Black Money Act, enforced by the Income Tax Department, enacted?Read the answer and worked solution →The Benami Transactions (Prohibition) Act, enforced by the Income Tax Department, dates from which year?Read the answer and worked solution →Which rule is cited as a measure against aggressive tax avoidance?Read the answer and worked solution →Which year's Income-tax Act moved administration from provincial to central government?Read the answer and worked solution →In which year was tax on capital gains first imposed in India?Read the answer and worked solution →Who was asked in 1956 to investigate the Indian tax system for the second Five-Year Plan?Read the answer and worked solution →Which tax Act of 1957 resulted from the Kaldor report?Read the answer and worked solution →The Gift-tax Act was enacted in which year?Read the answer and worked solution →The CBDT is headed by a chairman and how many members?Read the answer and worked solution →Which body is the CBDT's counterpart for indirect taxes?Read the answer and worked solution →The term Sevottam comes from which Hindi words?Read the answer and worked solution →Most returns are processed by the Centralised Processing Center in which city?Read the answer and worked solution →Automatic processing of returns, called summary assessment, falls under which provision?Read the answer and worked solution →A notice requiring a return from a taxpayer who has not filed one is issued under which provision?Read the answer and worked solution →If a taxpayer does not comply with notices in the time given, assessment is made under?Read the answer and worked solution →How is wilful evasion of tax treated under the Income-tax Act?Read the answer and worked solution →What can an updated return (ITR-U) NOT be used for?Read the answer and worked solution →Which section lets an assessing officer flag a return as defective?Read the answer and worked solution →A normal return is filed under which section?Read the answer and worked solution →Which section deals with assessment of income escaping assessment?Read the answer and worked solution →Under section 270A, the penalty on misreported income is what share of the tax?Read the answer and worked solution →Which letter marks a firm in the fourth position of a PAN?Read the answer and worked solution →Which fourth character in a PAN stands for a Hindu Undivided Family?Read the answer and worked solution →Which pattern shows a PAN's layout (L is a letter, N a numeral)?Read the answer and worked solution →Form 49A is the PAN application form for which applicants?Read the answer and worked solution →

Worked practice questions

A return due on 31 October of the assessment year applies to which filer?

  1. Salaried employee
  2. Retired pensioner
  3. Entity requiring audit
  4. Small agriculturist
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Correct answer: C. Entity requiring audit

Entities requiring audit, and partners of an audited firm, file by 31 October of the assessment year.

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Which body is the apex body that heads the Income Tax Department?

  1. CAG
  2. CBIC
  3. SEBI
  4. CBDT
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Correct answer: D. CBDT

The Central Board of Direct Taxes sits at the top of the department and oversees direct tax administration.

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Which Act is the most important direct tax law enforced by the Income Tax Department?

  1. Wealth-tax Act, 1957
  2. Income-tax Act, 1961
  3. Companies Act, 2013
  4. Gift-tax Act, 1958
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Correct answer: B. Income-tax Act, 1961

The Income-tax Act, 1961 is the main statute under which income is taxed and the department collects revenue.

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More Taxation topics

Double TaxationTransfer PricingDeduction, Collection and Recovery of TaxPermanent Account NumberBasic ConceptsAnti-avoidance ProvisionsAppeals, Revision and Dispute ResolutionSpecial Tax Regimes for Companies