S.Y. B.COM
SEMESTER - 3
ELEMENTS OF DIRECT TAXES
(EDT)
50 MCQS
Residential stusus
1. Mr. Maulik, an Italian citizen (not being a person of Indian origin) visits India for 80 days during previous year 2019-20. Previously he visited India during previous year 2015-16 and 2010-11 for 365 days and 365 days respectively. His residential status for the Assessment Year 2020-21 would be -
a) Non-resident in India
b) Resident & ordinarily resident in India
c) Resident but not ordinarily resident in India
d) Extra ordinarily resident in India
2. Mr. Mahesh is a foreign national (not being a person of Indian origin). Since 2004, he comes to India every year in the month of October for 100 days. His residential status for the Assessment Year 2020-21 would be
a) Non-resident in India
b) Resident & ordinarily resident in India
c) Resident but not ordinarily resident in India
d) Extra ordinarily resident in India
3. Mr. Mukesh, a foreign citizen, (being a person of Indian origin) comes to India for the first time on 22/08/2019 and stays up to 11/02/2020. His residential status for the Assessment Year 2020-21 would be -
a) Non-resident in India
b) Resident & ordinarily resident in India
c) Resident but not ordinarily resident in India
d) Extra ordinarily resident in India
4. Rainbow Ltd., an Indian company, has five managing directors who all are non-resident in India. During previous year 2019-20 company is wholly controlled from Australia. What would be the residential status company for the Assessment Year 2020-21 ?
a) Non-resident in India
b) Resident in India
c) Resident & ordinarily resident in India
d) Resident but not ordinarily resident in India
5. Which one of the following is not an income deemed to accrue or arise in India?
a) Capital gain on transfer of capital asset in India
b) Income from business connection in India'
c) Profit from business in London; which is controlled from Mumbai.
d) Royalty received from Government of India
6. Which of the following Income is not taxable in the immediately following A.Y.
a) Income of non - resident from shipping business.
b) Income of Resident Individual from salary.
c) Income of Resident Individual from House property.
d) Income of Resident Individual from Profession.
7. If control and management of affairs of Hindu undivided family is partially in India during the previous year and Karta satisfied only one of the additional conditions during the previous year then what is the residential status of the family ?
a) Resident and Ordinarily Resident in India
b) Non - resident in India
c) Resident but not Ordinarily Resident in India
d) None of the above
8. Which income is always taxable in India, irrespective of residential status of taxpayer?
a) Foreign income
b) Indian income
c) Agriculture income
d) None of the above
9. If taxpayer's residential status is ''Resident but not ordinarily resident'' then, Income received in India from business situated in Canada which is controlled from Delhi is -
a) Taxable
b) Not taxable
c) Exempt
d) None of a) to c)
10. Mr. B, Indian citizen, received Rs.1,80,000 in Lahore as income from house property situated there. This income is taxable in India, if Mr. B is ________ in India.
a) Resident & ordinarily resident
b) Resident but not ordinarily resident
c) Non - Resident in India
d) None of above
11. The head of Hindu undivided family is known as __________ .
a) Vidhata
b) Harta
c) Karta
d) Annadata
12. Mr. Pradip, an Italian citizen, comes to India for first time on May 20, 2019, and stays up to December 5, 2019. What is the residential status of Mr. Pradip for A.Y. 2020-21 ?
a) Resident & ordinarily resident in India
b) Resident but not ordinarily resident in India
c) Non – resident
d) None of above
13. Match the following :
i) Residential status | a) Foreign income |
ii) Scope of total income | b) The M. S. University of Baroda |
iii) Person | c) Share of Profit from partnership firm |
iv) Exempted income | d) 182 days |
(a) i - a, ii -b, iii - c, iv - d
(b) i - d, ii - a, iii - b, iv - c
(c) i - c, ii - d, iii - b, iv - a
(d) i - b, ii - a, iii - d, iv - c
14. Match the following :
i) Delhi University | a) A Company |
ii) Inox India Ltd. | b) A Local authority |
iii) ABC group housing co - operative Society | c) Artificial judicial person |
iv) Vadodara Seva Sadan | d) An association of persons |
(a) i - d, ii - c, iii - b, iv - a
(b) i - d, ii - a, iii - b, iv - c
(c) i - c, ii - a, iii - d, iv - b
(d) i - b, ii - a, iii - d, iv - c
15. If an Indian citizen, leaves India for the very first time for employment purposes during the previous year 2019-20, his residential status will be 'Resident & Ordinarily Resident in india' if he happens to be in India during the previous year 2019-20 for -
(a) atleast 60 days
(b) atleast 90 days
(c) atleast 150 days
(d) atleast 182 days
16. A firm is non resident in India if control & management is ............... located outside India.
(a) Wholly
(b) Partially
(c) both
(d) None of above
17. In order to determine whether a Hindu Undivided family is resident or non resident, the residential status of the karta of the family during the previous year is .............. .
(a) relevant
(b) irrelevant
(c) both
(d) None of above
18. Match the items given in A with one related item given in B below :
(i) Resident & Ordinarily Resident Individual | (a) Only Indian income is Taxable |
(ii) Non-Resident individual | (b) Both, Indian as well as Foreign income are taxable. |
(a) i – a, ii – b
(b) i - b, ii – a
(c) both
(d) None of above
19. Match the items given in A with one related item given in B below :
(i) Income deemed to be received in India | (a) Income from salary if service is rendered in India |
(ii) Income deemed to accrue or arise in India | (b) Interest credited to recognized provident fund account of an employee in excess of 9.5% |
(iii) Exempted income | (c) share of profit received by partner from firm |
(a) i – a, ii – b, iii – c
(b) i - b, ii – a, iii – c
(c) i – b, ii – c, iii – a
(d) None of above
20. Rent from property located in India is 'Income deemed to accrue or arise in India.
(a) True
(b) False
(c) Half True
(d) none
21. Income whether received in lumpsum to in installments, is liable to tax.
(a) True
(b) False
(c) Half True
(d) none
22. Mr. Aman, an Indian citizen, left India for the first time on 20/5/2017. During the financial year 2019-20, he came to India once on 27th May for a period of 58 days. What would be the residential status of Mr. Aman for the Assessment Year 2020-21.
a. Non-resident in India
b. Extra-ordinary in India
c. Resident & ordinarily resident
d. Resident but not ordinarily resident
23. Ms. Asha, an American citizen (not being a person of Indian origin), comes to India for the first time (after 20 years) on 28/05/2019 and leaves India for Dubai on 01/02/2020. What would be the residential status of Ms. Asha for the Assessment Year 2020-21.
a. Non-resident in India.
b. Extra-ordinary in India
c. Resident & ordinarily resident
d. Resident but not ordinarily resident
24. An Indian company having its control and management wholly outside India will have the residential status of -
a. Non-resident in India
b. Extra-ordinary in India
c. Resident in India
d. Resident but not ordinarily resident
25. From the following, which income is NOT exempt from tax u/s 10
a. Agriculture income
b. HRA from employer with certain limits
c. Share of Profit from firm
d. Fees & bonus from Employer
26. Mr. Danesh, Resident but Not Ordinarily Resident in India has earned following incomes during Previous Year 2019-20. Find out the gross total income
- Interest on Italian Development Bond (2/5 received in India) Rs.30,000
- Income earned from business in New York (U.S.A.) which is controlled from Delhi (Rs.7,500 received in India) Rs.32,500
- Pension from a former employer in India, received in Jakarta Rs.18,000
a. Rs.60,000
b. Rs.65,000
c. Rs.62,500
d. Rs.50,500
27. Exempted Income means
a. Income earned but not received.
b. Income received in cash.
c. Foreign income.
d. Income not forming part of total income.
28. During previous year 2019-20, Mr. Raymond, a foreign national (not being a person of Indian origin), visits India for 84 days. Previously he visited India during previous years 2011-12, 2012-13 & 2016-17 for 365 days, 50 days & 366 days respectively. What would be the residential status of Mr. Raymond for the Assessment Year 2020-21 ?
a. Non-resident in India
b. Resident & ordinarily resident
c. Resident but not ordinarily resident
d. Extra-ordinarily resident
29. Mr. Naresh, an Indian citizen, who is Resident but Not Ordinarily Resident in India has earned following incomes during previous year 2019-20.
- Income from business in London which is controlled from Pune (1/3 received in India) Rs.1,50,000.
- Salary from Government of India received in London (½ is paid for rendering service in India) Rs.2,00,000.
- Gift of Rs.40,000 received in India from a friend on 10/12/2019.
What is the gross total income?
a. Rs.2,50,000
b. Rs.2,90,000
c. Rs.3,50,000
d. Rs.3,90,000
30. Which of the following receipt is not treated as 'Income' under the provisions of the Income Tax Act, 1961?
a. Illegal income
b. Dividend
c. Pin money
d. Extra money on account of devaluation of currency
31. Incidence of tax in India is the highest in case of an individual whose residential status is
a. Non-resident in India
b. Resident & ordinarily resident
c. Resident but not ordinarily resident
d. Extra-ordinarily resident
32. Mr. Mahesh, an Indian citizen, leaves India for the first time on 11/08/2019 for pursuing M.B.A. from Oxford University of London. What would be the residential status of Mr. Mahesh for the Assessment Year 2020-21 ?
a. Non-resident in India
b. Resident & ordinarily resident
c. Resident but not ordinarily resident
d. Extra-ordinarily resident
33. Which of the following Incomes is not taxable in the immediately following financial year?
a. Income of Non- Resident from shipping business.
b. Income of Resident Individual from salary.
c. Income of Resident Individual from house property.
d. Income of Resident Individual from profession
34. Dividend from _________ Company is taxable in hands of shareholders.
a. Indian
b. Foreign
c. Indian banking
d. Indian non-banking
35. During previous year 2019-20, the affairs of X (HUF), a Hindu Undivided Family, are partly managed from India and partly from London. Mr. X, Karta of X (HUF), is non-resident in India for the assessment year 2020-21. What would be the residential status of X (HUF) for the Assessment Year 2020-21?
a. Non-resident in India
b. Resident & ordinarily resident in India
c. Resident but not ordinarily resident in India
d. Extra ordinarily resident in India
36. Mr. Munaf, an Indian citizen, leaves India for the first time on 30/05/2019 for going on a world tour and does not come back to India in P.Y. 2019-20. His residential status for the Assessment Year 2020-21 would be
a. Non-Resident in India
b. Resident & Ordinarily Resident in India
c. Resident but not Ordinarily Resident in India
d. Extra Ordinarily resident in India
37. Mr. Milan, who is non-resident in India has earned following incomes during previous year 2019-20
- Salary from an Indian company received in Canada (½ for rendering service in India) Rs.2,50,000.
- Profit on sale of property in Delhi (1/3 received in Canada) Rs.3,00,000.
- Income from agriculture in India received in Canada Rs.50,000.
What is Gross Total Income of Mr. Milan for P.Y. 2019-20 ?
a. Rs.6,00,000
b. Rs.5,50,000
c. Rs.4,75,000
d. Rs.4,25,000
38. Apex Ltd. is an Indian company whose entire control and management of its affairs is situated outside India, during the previous year 2019-20. What would be the residential status of Apex Ltd. For the Assessment Year 2020-21?
(a) Resident in India
(b) Resident and Ordinarily Resident in India
(c) Resident but not Ordinarily Resident in India
(d) Non Resident in India
39. The daily allowances received by a Member of Parliament is:
(a) Exempt
(b) Taxable
(c) Included in total income for rate purposes
(d) Exempt up to Rs.1,500 p.m.
40. In case of an Individual, Income deemed to accrue or arise in India is taxable to:
(a) Resident and ordinarily resident in India
(b) Resident but not ordinarily resident in India
(c) Non Resident in India
(d) All of the above
41. Mrs. Ambika a person of Indian Origin visited India for the first time on 16-10-2019 and stayed for 185 days. What would be her residential status for the Assessment Year 2020-21?
(a) Resident and Ordinarily Resident in India
(b) Resident but not Ordinarily Resident in India
(c) Non Resident in India
(d) Extra Ordinarily Resident in India
42. What is the legal status of Mrs. Chhaya, Associate Professor in Sardar Patel University?
(a) an individual
(b) a firm
(c) an association of persons
(d) artificial juridical person
43. Which of the following statement is TRUE?
(a) A person may be resident in two (or more) countries at the same time.
(b) An assesses may enjoy different residential status -for different assessment years.
(c) Both (a) and (b)
(d) None of the above
44. A Partnership firm having its control and management wholly outside India will have the residential status of -
(a) Non-resident in India
(b) Extra-ordinarily Resident in India
(c) Resident in India
(d) Resident but not ordinarily resident in India
45. Mr. Kiran an Indian Citizen, leaves India for the first time on 30-05-2019 for pursuing M. Tech from London University. What would be his residential status for the Assessment Year 2020-21 ?
(a) Resident and Ordinarily Resident in India
(b) Resident but not Ordinarily Resident in India
(c) Non Resident in India
(d) Extra Ordinarily Resident in India
46. Gift received on occasion of _________ of Individual is Exempt.
a. Birthday
b. Marriage
c. Marriage Anniversary
d. Son's Birthday
47. Mr. Abhijit, Citizen of US and a person of Indian Origin comes to India for the very first time on 29-8-2019 and leaves India on 1-4-2020. His Residential status for the P.Y. 2019-20 is
a. Resident and Ordinarily Resident in India.
b. Resident but not Ordinarily Resident in India.
c. Non Resident in India.
d. Extra Ordinarily Resident in India.
48. Mr. Kadri (an Indian National) has received a salary from Government of India in Turkey, for rendering services in Turkey. 'The Income received by Mr. Kadri is __________ .
a) An Indian Income
b) Foreign Income
c) Not an Income
d) None of the above
49. A S.Y. B.Com student received scholarship of Rs.24,000. She spends Rs.20,000 for meeting cost of education. What will be included in her taxable income?
(a) Rs.24,000
(b) Rs.20,000
(c) Rs.4,000
(d) NIL
50. Daily allowances received by a Member of Parliament is _________ .
(a) Exempt
(b) Taxable
(c) Included in total income for rate purposes
(d) None of the above
Tags # SY Semester 3 MCQ
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