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Multiple Choice Questions and Answers on Income Tax Rate & Basic Concept of Income Tax

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Free download in PDF Tax Rate & Basic Concept of Income Tax Multiple Choice Questions and Answers for competitive exams. These short objective type questions with answers are very important for Board exams as well as competitive exams like UPSC, NDA, SSC etc. These short solved questions or quizzes are provided by Gkseries./p>

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(1) The income-tax payable by a Non Resident Individual (aged 30 years) for AY 2019-20 if his total income s Rs. ` 2,75,500 will be:
[A] Rs.` 1,326
[B] Rs.` 566
[C] Rs.` 570
[D] Rs.` 2,626
Answer: Rs.` 1,326
(2) The income-tax payable by a Resident Individual (aged 30 years) for AY 2019-20 if his total income is Rs.` 5,00,000 will be:
[A] Rs.` 20,600
[B] Rs.` 25,750
[C] Rs.` 33,990
[D] Rs. ‘ 13,000
Answer: Rs. ‘ 13,000

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(3) The income-tax payable by a Resident Individual (aged 30 years) for AY 2019-20 if his total. income is Rs.` 6,00,000 will be:
[A] Rs.` 46,350
[B] Rs.` 44,290
[C] Rs.` 45,000
[D] Rs.` 33,475
Answer: Rs.` 33,475
(4) The income-tax payable by a Resident Individual (aged 30 years) for AY 2019-20 if his total income is Rs. ` 16,00,000 will be:
[A] Rs.` 3,14,150
[B] Rs.` 3,19,000
[C] Rs.` 3,04,200
[D] Rs.` 2,626
Answer: Rs.` 3,04,200
(5) The income-tax payable by a Non Resident Individual (aged 62 years) for AY 2019-20 if his total income is Rs. ` 2,90,000 will be:
[A] Rs.2,080
[B] Rs.`2,060
[C] Rs.` 4,120
[D] Rs.` 4,000
Answer: Rs.2,080
(6) The income-tax payable by a Resident Individual (aged 62 years) for AY 2019-20 if his total income is Rs.` 3,00,000 will be :
[A] Nil
[B] Rs.`2,060
[C] Rs.` 4,120
[D] Rs.` 4,000
Answer: Nil
(7) The income-tax payable by a Resident Individual (aged 62 years) for AY 2019-20 if his total income is Rs.` 3,50,000 will be:
[A] Rs.` 2,060
[B] Rs.` 1,030
[C] Rs.` 4,120
[D] Nil
Answer: Nil
(8) The income-tax payable by a Resident Individual (aged 62 years) for AY 2019-20 if his total income is Rs.` 3,60,000 will be:
[A] Rs.` 1,030
[B] Rs.` 6,180
[C] Rs.` 8,240
[D] Rs. ` 3,120
Answer: Rs. ` 3,120
(9) The income-tax payable by a Resident Individual (aged 80 years) for AY 2019-20 if his total income is Rs.` 5,00,000 will be:
[A] Nil
[B] Rs.` 1,030
[C] Rs.` 8,240
[D] Rs.` 6,180
Answer: Nil
(10) The income-tax payable by a Resident Individual (aged 80 years) for AY 2019-20 if his total income is Rs.` 5,10,000 will be:
[A] Rs.2,080
[B] Rs.` 2,060
[C] Rs.`1,030
[D] Rs.` 6,180
Answer: Rs.2,080

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