Recommended
More Related Content
Similar to Clubbing of income MCQ
Similar to Clubbing of income MCQ (12)
Recently uploaded
Recently uploaded (20)
Clubbing of income MCQ
- 3. . Revocable transfer of assets has been defined under sec…… A) Sec 51 B) Sec 61 C) Sec 71 D) None of the above In order to curb tax avoidance practices, some necessary clubbing provision have been incorporated u/s ….. A) 60 to 64 B) 50 to 54 C) 70 to 74 D) None of the above Inclusion of others incomes in the income of the assessee is known as… A) Inclusion of income B) Other income C) Clubbing of income D) None of the above
- 4. Clubbing of income of minor child has been defined under section…. A) Sec 64(1A) B) Sec 74(1A) C) Sec 64(1B) D) None of the above Exemption to parent comes u/s…. A) Sec 10(31) B) Sec 10(32) C) Sec 10(33) D) None of the above Amounting to Rs. …. Is exemption in respect to each minor child under clubbing and aggregation of income A) 2500 B) 1500 C) 3500 D) None of the above
- 5. The person on whose name the property has been purchased is known as …… and the property is known as…… A) Benamidar, Benami property B) Ostensible owner, own property C) Benami, footpath D) None of the above Clubbing provision are applicable for A) HUF B) Individual C) Firms D) None of the Above Clubbing provision are applicable in case of A) Positive income B) Negative income C) Both D) None of the above
- 6. In case parent are separated, then the income of minor will be included in the income of A) Mother B) Father C) That parent who maintain the minor D) None of the Above In case parent are not separated, then the income of minor will be included in the income of A) Mother B) Father C) That parent who income is greater D) None of the Above
- 7. A) Ram B) Sita C) Ram & Sita Proportionately D) Sita taxable upto an extend and remaining in the hands of Ram A) He alone or along with his relatives owns beneficially, equity shares carrying not less than 30% of voting power at any time during the PY B) He alone or along with his relatives owns beneficially, equity shares carrying not less than 25% of voting power at any time during the PY C) He alone or along with his relatives owns beneficially, equity shares carrying not less than 20% of voting power at any time during the PY
- 8. A) Taxable in the hands of the father of minor B) Taxable in the hands of minor C) Taxable in the hands of either of the parents of minor whose income before including minor’s income is higher D) Taxable in the hands of husband of such minor A) Transferor B) Transferee C) Both A & B D) Neither A Nor B