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CS Executive Direct Taxes — At a Glance — practice questions

Explore 3 free Direct Taxes — At a Glance questions in CS Executive Taxlaws. Open each question or exercise to read its content, reference answers and available explanation.

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Direct Taxes — At a Glance questions and exercises with answers

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In addition to the principal income tax statute, a set of rules has been framed for implementing its various provisions. What is the title and year of those rules?Read the answer and worked solution →Drag each reform to the Act that made itRead the answer and worked solution →Fill in the ground rules of taxationRead the answer and worked solution →

Worked practice questions

In addition to the principal income tax statute, a set of rules has been framed for implementing its various provisions. What is the title and year of those rules?

  1. Income Tax Rules, 1922
  2. Income Tax Rules, 1961
  3. Income Tax Rules, 1962
  4. Direct Tax Rules, 1964
Show answer and solution

Correct answer: C. Income Tax Rules, 1962

1. The Income Tax Act, 1961 came into force on 1 April 1962. 2. The implementing rules framed under it are the Income Tax Rules, 1962. 3. They take their name from the year of operationalisation. 4. There is no Income Tax Rules, 1961 or 1922; the 1964 instrument cited is fictional. _Source: ICSI CS Executive Paper 4 (Tax Laws) — Lesson 1: Direct Taxes — At a Glance, pp. 10-22._

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Drag each reform to the Act that made it

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Items
  1. Group
    1860 Act
    Item
    First income tax
  2. Group
    1886 Act
    Item
    Hindu family taxed
  3. Group
    1918 Act
    Item
    Business deductions
  4. Group
    1922 Act
    Item
    Officers given names
  5. Group
    1860 Act
    Item
    Lapsed in 1865
  6. Group
    1886 Act
    Item
    Farm income exempt
  7. Group
    1918 Act
    Item
    Casual receipts taxed
  8. Group
    1922 Act
    Item
    Annual Finance Acts
Groups
  1. Item
    1860 Act
  2. Item
    1886 Act
  3. Item
    1918 Act
  4. Item
    1922 Act
Instructions
Drag every reform onto the income tax Act that brought it in: 1860, 1886, 1918 or 1922.
_Source: ICSI CS Executive Paper 4 (Tax Laws) — Lesson 1: Direct Taxes — At a Glance, pp. 10-22._

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Fill in the ground rules of taxation

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Missing parts
  1. Answer
    law
    Choices
    1. law
    2. custom
    3. a notice
  2. Answer
    246
    Choices
    1. 286
    2. 246
    3. 110
  3. Answer
    Concurrent
    Choices
    1. Residual
    2. Federal
    3. Concurrent
Complete the statement
No tax may be levied or collected except by the authority of {0}. Article {1} then splits the power to tax across the Union List, the State List and the {2} List.
Instructions
Tap the right choice for each blank to complete the constitutional basis of a tax.
_Source: ICSI CS Executive Paper 4 (Tax Laws) — Lesson 1: Direct Taxes — At a Glance, pp. 10-22._

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