Articleship assessment test ICAI – Level 1 | Direct Tax MCQ – Income which do not form part of Total Income

Articleship assessment test ICAI – MCQ

Question 1:- 

Which of the following income/s do not form part of Total Income?

(a) Income of newly established units in Special Economic Zones, eligible for benefit u/s 10AA.

(b) Income of political parties

(c) Income of an Electoral Trust

(d) All of the above

Question 2:- 

As per section 10(2), any sum received by an individual, as a member of HUF is ____________ in the hands of such member.

(a) Taxable

(b) Exempt

(c) Partly Taxable

(d) None of the above

 

Question 3:- 

As per section 10, which of the following income/s are not exempt from tax?

(a) Share or profit of a partner in total income of the firm

(b) Interest received by an individual on account of amount standing to his credit in a Non Resident external Account in India

(c) Salary received by a non-resident employee who is not a citizen of India on a foreign ship whose stay in India is 92 days in the previous year

(d) Remuneration received by foreign government employee during his training in India

 

Question 4:- 

As per section 10(6)(viii), a non-resident employed on a foreign ship must stay in India for a period not exceeding __________ in order to exempt his income from tax.

(a) 90 days

(b) 100 days

(c) 182 days

(d) 212 days

 

Question 5:- 

Any sum received under a Keyman Insurance Policy is _________ u/s 10(10D).

(a) Taxable

(b) Exempt from tax

(c) Taxable upto specified amount

(d) None of the above

 

 

Answers

  1. (d) All of the above
  2. (b) Exempt
  3. (c) Salary received by a non-resident employee who is not a citizen of India on a foreign ship whose stay in India is 92 days in the previous year
  4. (a) 90 days
  5. (a) Taxable
Share on whatsapp
Share on facebook
Share on twitter
Share on linkedin
Share on email

Leave a Comment