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

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Questions
1 In case of a female individual, who is of 59 years of age, what is the maximum exemption limit for AY? 2019-20:
A Rs.` 3,00,000
B Rs.` 2,50,000
C Rs.` 5,00,000
D Nil

Answer:Rs.` 2,50,000
2 The income-tax payable by a Resident Individual (aged 30 years) for AY. 2019-20 if his total income is Rs.`3,00,000 will be:
A Rs.` 2,600
B Rs.` 2,210
C Rs.` 2,206
D Nil

Answer:Nil
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3 The income-tax payable by a Non Resident Individual (aged 30 years) for Assessment Year 2019-20 if his total income is Rs.` 2,70,000 will be:
A Rs.` 2,060
B Rs.` 2,210
C Rs.` 2,206
D Rs.1040

Answer:Rs.1040
4 The income-tax payable by a Resident Individual (aged 30 years) for AY. 2019-20 if his total income is Rs.` 3,01,500 will be:
A Rs.` 2,630
B Rs.` 78
C Rs.` 150
D Rs.` 2,626

Answer:Rs.` 78
5 The income-tax payable by a Mrs. Swati Non Resident Individual (aged 65 years) for AY. 2019-20 if her total income is Rs.` 2,75,000 will be:
A Rs.560
B Rs.` 2,575
C Rs.` 2,580
D Rs.` 1300

Answer:Rs.` 1300
6 The income-tax payable by a Mr. Bansal Resident Individual (aged 25 years) for AY. 2019-20 if his total income is Rs.` 4,50,000 will be :
A Rs.10,400
B Rs.` 15,450
C Rs.` 20,600
D Rs.` 540

Answer:Rs.10,400
7 Arun, a non-resident of India celebrated his 80th birthday on 10th October 2018. If his total income for the previous year is Rs.` 6,00,000, his income-tax liability for the previous year 2018-19 is
A Rs.` 46,350
B Rs.` 41,200
C Rs.` 20,600
D Rs. ‘ 33,800

Answer:Rs. ‘ 33,800
8 The amount of marginal relief admissible to Mr. Bansal Resident Individual (aged 25 years) for AY 2019-20 if his total income is Rs.1,01,00,000 will be :
A Rs.`3,58,250
B Rs.` 2,00,000
C Rs.` 2,20,000
D Rs.3,56,375

Answer:Rs.3,56,375
9 The maximum income of ` ---------------is not chargeable to tax is case of non-resident woman of 60 years of age.
A Rs.` 2,50,000
B Rs.` 3,00,000
C Rs.` 5,00,000
D Rs.` 10,00,000

Answer:2,50,000
10 The tax payable is rounded off to the nearest multiple of -
A Rs.` 1
B Rs.` 1,000
C Rs.` 10
D Rs.` 100

Answer:Rs.` 10
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