Articleship assessment test ICAI – Level 1 | Direct Tax MCQ – Residential Status

Articleship assessment test ICAI – MCQ

Question 1:- 

An individual is said to be resident and ordinary resident in India if he has been resident in India for at least 2 out of 10 previous years and _________________.

(a) He has been in India for a period of 700 days or more during the 7 previous years immediately preceding the relevant previous year

(b) He has been in India for a period of 730 days or more during the 7 previous years immediately preceding the relevant previous year

(c) He has been in India for a period of 700 days or more during the 10 previous years immediately preceding the relevant previous year

(d) He has been in India for a period of 730 days or more during the 10 previous years immediately preceding the relevant previous year




Question 2:- 

As per section 6(3), company is said to be resident in India an any previous year if its place of effective management, in that year, is in India or

(a) It is an Indian company

(b) It is a foreign company

(c) Either A or B

(d) Both A and B

Question 3:- 

As per section 7, which of following income is/are deemed to be received in India even in the absence of actual receipt?

(a) Contribution made by the employer to Recognised Provident Fund in excess of 12% of salary of the employee

(b) Interest credited to RPF of employee in excess of 12% p.a.

(c) Both A & B

(d) None of the above

Question 4:- 

Devang, a non-resident, transfers an immovable property (located in Delhi) to Mayur, resident in India. The amount received by Devang will be:

(a) Taxable in India

(b) Non-taxable in India

(c) 50% of the amount will be taxable in India

(d) None of the above




Question 5:- 

A resident HUF will be considered as resident and ordinarily resident in India if its __________ is and ordinary resident in India.

(a) Members

(b) Karta

(c) Karta & any one member

(d) Karta & all members

Answers

1. (b) He has been in India for a period of 730 days or more during the 7 previous years immediately preceding the relevant previous year

2. (a) It is an Indian company

3. (a) Contribution made by the employer to Recognised Provident Fund in excess of 12% of salary of the employee

4. (a) Taxable in India

5. (b) Karta

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