Multiple Choice Questions on Income Tax With Answers | Tax Rate & Basic Concept of Income Tax MCQs

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

View Answer

Answer:Nil

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

View Answer

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

View Answer

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

View Answer

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

View Answer

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

View Answer

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

View Answer