CA Inter Income Tax MCQs – Clubbing Of Income

Question 1

Which of the following is included under “Transfer” for the purpose of sections 60, 61 and 62 ?

a) Settlement

b) Trust

c) Covenant

d) All of the above




Question 2

Ram owns a house property in Delhi. He transfers it to his wife Sita on the condition that such transfer is irrevocable during the life time of Sita. Ram transfers the property on an agreement that he will be paid 30% of the rent received by Sita on such property. The total income from such house property will be included in the income of __________

a) Ram

b) Sita

c) Ram & Sita proportionately

d) Sita only up to the extent of income received by her from such property and balance in hands of Ram

Question 3

An individual can be said to have substantial interest in the concern for the purpose of clubbing provisions if ____________

a) He alone or along with his relatives owns beneficially, equity shares carrying not less than 30% of voting power at any time during the previous year

b) He alone or along with his relatives owns beneficially, equity shares carrying not less than 25% of voting power at any time during the previous year

c) He alone or along with his relatives owns beneficially, equity shares carrying not less than 20% of voting power at any time during the previous year

d) None of the above

Question 4

Interest on deposit, received by minor married daughter (minor) is ____________

a) Taxable in the hands of the father of minor

b) Taxable in the hands of minor

c) Taxable in the hands of either of the parents of minor whose income before including minor’s income is higher

d) Taxable in the hands of husband of such minor




Question 5

The notice of demand in respect of tax paid on clubbed income can be served on _________

a) Transferor

b) Transferee

c) Both (a) and (b)

d) Neither (a) nor (b)

CA Inter Income Tax MCQs

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